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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: 24.02.2017

EUR/USD Current level - 1.0586

The intraday bias is still positive, for a tight test below 1.0630 resistance area. The latter should cap the upside, for another downswing towards 1.0450. Crucial intraday low lies at 1.0535.

Forex Technical Analysis on EUR/USD

resistance
intraday intraweek
1.0602 1.0705
1.0630 1.0870
support
intraday intraweek
1.0535 1.0500
1.0450 1.0350

USD/JPY Current level - 112.73

The outlook here is bearish, for a slide towards 111.60 zone. Initial intraday resistance lies at 113.00 and crucial on the upside is 113.30 high.

Forex Technical Analysis on USD/JPY

resistance
intraday intraweek
113.00 118.65
114.95 120.00
support
intraday intraweek
112.50 111.40
111.60 109.80

GBP/USD Current level - 1.2548

The bias is positive above 1.2510 minor support, for a test of 1.2610 resistance area. The latter will initiate a slide towards 1.2380 major support.

Forex Technical Analysis on GBP/USD

resistance
intraday intraweek
1.2610 1.2780
1.2705 1.2780
support
intraday intraweek
1.2510 1.2230
1.2380 1.1984

EUGERMANY30 Current level - 11923

A reversal has been confirmed at 12036 and the intraday bias is negative, for a test of 11850-90 support area. Crucial on the upside is 11970. 

Forex Technical Analysis on EUGERMANY30

resistance
intraday intraweek
11970 12100
12100 12400
support
intraday intraweek
11890 11720
11850 11335

US30 Current level - 20792

The overall outlook remains bullish above 20750, for a rise towards 20900 zone. Crucial on the downside is 20680.

Forex Technical Analysis on US30

resistance
intraday intraweek
20840 20900
20900 21000
support
intraday intraweek
20750 20520
20680 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.