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Daily Technical Analysis

EUR/USD

Current level – 1.1319

The dollar continues to appreciate against the common European currency as it violated yet another support level – the one of 1.1365. The sentiment is strictly negative and the expectations are for the pair to test and breach the local bottom at 1.1310, which would pave the way towards the next support at 1.1260. After the sharp decline, it is possible that we could witness a corrective move, which would be limited below the resistance level of 1.1435. The data on the building permits for the U.S., which is to be announced today at 13:30 GMT, is expected to cause a spike in volatility.

Resistance Support
intraday intraweek intraday intraweek
1.1365 1.1600 1.1310 1.1260
1.1435 1.1680 1.1260 1.1200

USD/JPY

Current level – 114.89

During yesterday’s trading session, two consecutive breaches of the support levels of 114.23 and 114.42 ended the range phase for the Ninja and paved the way towards the resistance zone of around 115.50. In the negative direction, the mentioned level of 114.42 is now acting as a support, and the former lower border of the range at 113.40, in which the pair was previously trading, is the major support for the pair.

Resistance Support
intraday intraweek intraday intraweek
115.50 115.50 114.42 112.77
117.00 117.00 113.75 111.50

GBP/USD

Current level – 1.3425

Following the sharp decline, the Cable entered a consolidation phase and is trading in the narrow range between 1.3359 and 1.3439. Only a confirmed breach of either of the borders of the range would set the future direction for the pair. However, considering the strong performance of the dollar against most of the other currencies, the most likely scenario is for the Cable to violate the lower border of the range and move towards 1.3290.

Resistance Support
intraday intraweek intraday intraweek
1.3440 1.3550 1.3360 1.3200
1.3500 1.3600 1.3290 1.3200

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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