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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: 21.10.2016


Current level - 1.0905

Forex Technical Analysis on EUR/USD

The downtrend has been renewed after yesterday's short-lived spike to 1.1039 and the outlook is bearish, for a slide towards 1.0820 support area. Key intraday resistance lies at 1.0950.

intraday intraweek
1.0950 1.1120
1.1060 1.1370
intraday intraweek
1.0890 1.0910
1.0820 1.0820


Current level - 104.06

Forex Technical Analysis on USD/JPY

The bias is positive and the pair is currently testing 104.20 resistance zone. Key support lies at 103.80.

intraday intraweek
104.20 105.50
104.62 107.40
intraday intraweek
103.80 100.10
103.15 99.53


Current level - 1.2239

Forex Technical Analysis on GBP/USD

Despite the slow pace, my outlook here remains bearish, towards 1.2185 dynamic support. Crucial resistance lies at 1.2330.

intraday intraweek
1.2330 1.2794
1.2330 1.3020
intraday intraweek
1.2185 1.2088


Current level - 10701

Forex Technical Analysis on EUGERMANY30

The failure at 10590 signals a renewal of the upmove, with current target at 10807 resistance. Crucial on the downside is 10590 hurdle and only a break through the latter will signal a slide towards 10350 zone.

intraday intraweek
10807 10807
10907 12110
intraday intraweek
10686 10350


Current level - 18157

Forex Technical Analysis on US30

My outlook here remains bearish, for a slide towards 18050, en route to 17900 zone.

intraday intraweek
18260 18450
18450 18550
intraday intraweek
18115 17900

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.