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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: 2.12.2016

EUR/USD Current level - 1.0683

The intraday bias is positive above 1.0640-50 support area, for a test of 1.0745 hurdle. A break through the latter will challenge 1.0860 main target area. Crucial on the downside is 1.0582 low.

Forex Technical Analysis on EUR/USD

resistance
intraday intraweek
1.0745 1.0860
1.0860 1.0990
support
intraday intraweek
1.0640 1.0517
1.0582 1.0460

USD/JPY Current level - 113.97

Yesterday's test of 114.80 failed as well and my outlook is bearish, for a break through 113.85 support, towards 113.00 area. 

Forex Technical Analysis on USD/JPY

resistance
intraday intraweek
114.85 114.85
116.00 116.00
support
intraday intraweek
113.85 111.40
113.00 109.75

GBP/USD Current level - 1.2610

The initail pullback after 1.2680 test should be considered corretcive, preceding another leg upwards, to 1.2815 zone. Initial support lies at 1.2560 and crucial low is projected at 1.2435.

Forex Technical Analysis on GBP/USD

resistance
intraday intraweek
1.2680 1.2680
1.2815 1.2850
support
intraday intraweek
1.2560 1.2360
1.2435 1.2280

EUGERMANY30 Current level - 10469

The downtrend is intact, heaidng towards 10200 area. Initial ressitance lies at 10590.

Forex Technical Analysis on EUGERMANY30

resistance
intraday intraweek
10590 10830
10715 11000
support
intraday intraweek
10470 10400
10400 10200

US30 Current level - 19172

The trading is still capped at 19222 peak and my outlook here is neutral. Initial major support is projected at 19050.

Forex Technical Analysis on US30

resistance
intraday intraweek
19222 19200
19222 19500
support
intraday intraweek
19050 18800
18970 18630

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.