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Daily Technical Analysis

by Stoyan Mihaylov



Date: 21.07.2017

EUR/USD Current level - 1.1631

Yesterday's precise test at 1.1480 has finalized the consolidation pattern below 1.1580 and the uptrend was renewed, breaking beyond 1.1610 hurdle. The bias remain bullish above 1.1580, for a rise towards 1.1720. Crucial on the downside is 1.1480 low.

Forex Technical Analysis on EUR/USD

resistance
intraday intraweek
1.1350 1.1720
1.1720 1.1720
support
intraday intraweek
1.1580 1.1370
1.1480 1.1290

USD/JPY Current level - 111.93

My outlook remains negative, for a break through 111.47 low, towards 110.30 area. Initial resistance lies at 112.40.

Forex Technical Analysis on USD/JPY

resistance
intraday intraweek
112.40 114.50
112.80 115.50
support
intraday intraweek
111.50 111.75
110.30 110.20

GBP/USD Current level - 1.2974

The downtrend from 1.3125 is still intact while below 1.3004 minor resistance, but my outlook is already counter-trend against 1.2910, for a reversal and rise towards 1.3130 zone.

Forex Technical Analysis on GBP/USD

resistance
intraday intraweek
1.3004 1.3260
1.3130 1.3500
support
intraday intraweek
1.2910 1.2810
1.2810 1.2480

EUGERMANY30 Current level - 12440

The intraday bias is negative below 12480, for a downswing towards 122270 zone.

Forex Technical Analysis on EUGERMANY30

resistance
intraday intraweek
12480 12950
12540 13000
support
intraday intraweek
12415 12270
12380 12110

US30 Current level - 21625

The second test at 21685 failed as well and I favor a break on the downside, for a slide towards 21480. Initial support lies at 21580.

Forex Technical Analysis on US30

resistance
intraday intraweek
21700 21700
21800 22000
support
intraday intraweek
21580 21300
21440 21110
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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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.

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