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Forex Technical Analysis

by Stoyan Mihaylov »

Note: Our analyst Stoyan Mihailov will be on a leave of absence until the 31st of December. In the meantime, the daily technical analysis will be updated by our Dealing Department.


Date: 18.12.2014

Major Currency Pairs:   EUR/USD   USD/JPY   GBP/USD

EUR/USD

Current level - 1.2342

Forex Technical Analysis on EUR/USD

Janet Yellen's statement interrupted the EUR/USD northbound correction and printed the greatest daily loss of the currency pair since September 4th to consolidate in the 1.2345 zone. Next target ahead of the EUR/USD will be the 1.2246 area. Both short and long term chart frames signal a negative mood and confirmation will follow once the 1.2322 level goes down.

resistance
intraday intraweek
1.2560 1.2600
1.2600 1.2880
support
intraday intraweek
1.2322 1.2246
1.2246 1.2040

USD/JPY

Current level - 118.56

Forex Technical Analysis on USD/JPY

After the correction to 115.54 the pair gained pace to close above 118.80. Full confirmation of the northbound trend will follow once the 119.00 obstacle falls. Levels to watch in the long run is 122.00 once the pair goes through 119.80.

resistance
intraday intraweek
119.00 122.00
119.80 124.16
support
intraday intraweek
116.50 116.00
116.00 115.30

GBP/USD

Current level - 1.5589

Forex Technical Analysis on GBP/USD
 
The range-bound trading in GBP/USD between the 1.5750 resistance and the 1.5530 support remains intact. In the mid-term we expect the downtrend of the pair to resume in direction of the key 1.5430 support.
 

resistance
intraday intraweek
1.5754 1.5940
1.5825 1.6020
support
intraday intraweek
1.5529 1.5430
1.5430
1.5196

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, Deltastock's Analyst Deptartment also takes into consideration a number of fundamental and macroeconomic factors, which we believe may impact the price moves of the observed instruments.

Deltastock AD 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. Deltastock AD 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 prior notice.

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