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Daily Technical Analysis

EUR/USD

Current level – 1.2072

For the second week in a row, the euro continues to lose its value in favor of the dollar, reaching the key support zone at 1.2060-80 in the first hours of today’s trading session. For the time being, the forecast is for this support to remain unbreached and for the pair to move into a consolidation phase. The first important resistance is the level of 1.2141. This week, investors’ attention will be drawn to the European Central Bank’s interest rate decision (Thursday; 14:45 EET).

Resistance Support
intraday intraweek intraday intraweek
1.2141 1.2309 1.2060 1.1950
1.2270 1.2340 1.2060 1.1950

USD/JPY

Current level – 103.73

After failing to breach and stay above the important resistance at 104.73, the currency pair went into a consolidation phase and, in the last few trading sessions, it has been trading in a narrow range. The current expectations are for a downward movement and a test of the key support at 102.69. This week, investors will be closely following the Bank of Japan’s interest rate decision scheduled for this Thursday.

Resistance Support
intraday intraweek intraday intraweek
104.03 104.25 103.49 103.01
104.25 104.58 103.27 102.69

GBP/USD

Current level – 1.3570

Last week, the currency pair tested the key resistance at 1.3700, but once more failed to breach it. This was followed by a corrective move and the pair is currently found at the 1.3570 level. The downtrend is expected to continue and the first important support at 1.3440 is to be tested and breached. The first important resistance is the level of 1.3620.

Resistance Support
intraday intraweek intraday intraweek
1.3620 1.3860 1.3560 1.3440
1.3700 1.3980 1.3560 1.3315

DeltaStock Inc.
DeltaStock Inc.http://www.deltastock.com/
These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Delta Stock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Delta Stock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Delta Stock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.

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