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Daily Technical Analysis

by Stoyan Mihaylov »
Stoyan Mihaylov Our Financial Analyst at Deltastock, Stoyan Mihaylov has an eight-year background as a senior FX Dealer, trading spot and outright forwards. Since May 2006, Stoyan has been providing daily, weekly and mid-term analyses on the Foreign Exchange Market. He has also been reading lectures on FX Fundamental and Technical Analyses in major Bulgarian Universities. Stoyan Mihaylov has graduated MBA in the University of Economics – Varna, Bulgaria.


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Date: 24.03.2017

EUR/USD Current level - 1.0772

The outlook remains positive, for a break through 1.0828, towards 1.0940 resistance mark. Crucial on the downside is 1.0712 low.

Forex Technical Analysis on EUR/USD

resistance
intraday intraweek
1.0828 1.0870
1.0870 1.0945
support
intraday intraweek
1.0712 1.0600
1.0600 1.0490

USD/JPY Current level - 111.27

The rebound above 110.70 is corrective and the overall outlook remains bearish, for a slide towards 109.75 target area. Key resistance lies at 112.26.

Forex Technical Analysis on USD/JPY

resistance
intraday intraweek
112.26 113.50
112.90 115.65
support
intraday intraweek
110.72 109.75
109.75 107.80

GBP/USD Current level - 1.2487

The overall outlook is bullish, for a tight test of 1.2570 and even 1.2620. Initial support lies at 1.2425 and crucial on the senior frames is 1.2335.

Forex Technical Analysis on GBP/USD

resistance
intraday intraweek
1.2570 1.2570
1.2620 1.2705
support
intraday intraweek
1.2425 1.2107
1.2335 1.1984

EUGERMANY30 Current level - 12039

Despite the positive intraday bias, my outlook is counter-trend, for a slide towards 11965, en route to 11850.

Forex Technical Analysis on EUGERMANY30

resistance
intraday intraweek
12113 12113
12113 12190
support
intraday intraweek
11965 11720
11850 11720

US30 Current level - 20689

The outlook remains negative below 20780, for a slide towards 20510 area. Crucial on the senor frames is 20970 high.

Forex Technical Analysis on US30

resistance
intraday intraweek
20780 20970
20870 21170
support
intraday intraweek
20610 20510
20510 20150

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.