Daily Tecnical Analysis

EUR/USD

Current level – 1.2116

During yesterday’s trading session, the euro lost quite a bit of its value against the dollar as the support at 1.2128 was breached. A short-term downward correction followed and the mentioned level, which is already acting as resistance, was tested, but not breached. The downward trend is forecasted to continue, with the first important support being 1.2065. Today, investors’ attention will be drawn towards the data on the non-farm payrolls changes for the United States (12:30 GMT).

USD/JPY

Current level – 110.18

After the failed breach of the resistance zone at 1.2238, during yesterday’s trading session the single European currency lost its value against the U.S. dollar after another failed attempt by the bears to test the support zone at 1.2170. The mentioned support and resistance outline the borders of the created range, which was formed approximately three weeks ago. At the moment, neither buyers nor sellers are able to gain momentum and tip the scales in their favor. The forecasts, then, are for maintaining the move in the mentioned channel between 1.2170 – 1.2238. The most important news for investors today is the ADP non-farm employment change data for the U.S. (12:15 GMT), as well as the initial jobless claims data, again for the U.S. (12:30 GMT).

GBP/USD

Current level – 1.4096

After the formation of a double top at 1.4240, the pair started a downhill slide and this trend is projected to continue. The current levels at around 1.4100 are acting as a support zone. Should this zone become breached, the pound should continue to lose its value against the greenback and the pair will most likely focus on a test of the next important support at 1.4035. The critical level of resistance is the mentioned double top at 1.4240.