The trend remains negative after the
bounce from 113.70. The expectations are for a decline towards 112.22
and a slight retracement afterwards. If the break of 112.22 is
successful the new target would be around 111.75.
We are seeing a slight optimism in the
British pound. I expect a new test of the resistance zone at
1.2700. For the bulls to take over they'll need a successful break of
that level. On the contrary this could bring back the pair to the
levels around 1.2550 - 1.2500.
The general trend remains negative. It's
possible a slight correction to happen towards 2400 and then a renewal
of the trend with target at 23350. The first resistance is
Where will the market go?
Stay informed with a free subscription to our analyses.
Deltastock’s technical analyses are provided by Stoyan Mihaylov, a financial analyst with a 15-year
background as a senior FX Dealer, trading spot and outright forwards. Since 2006 Stoyan has been
providing daily, weekly and mid-term analyses on major Forex pairs and Indices. He is a regular
lecturer at the company’s seminars and online trainings and also teaches FX Fundamental and
Technical Analyses at major Bulgarian universities.
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.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider.You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.