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EUR/USD: Ready for a break through 1.1830, en route to 1.2050

Stoyan Mihaylov DeltaStock.com

EUR/USD Current level - 1.1819

The corrective pattern below 1.1830 is over with yesterday's low at 1.1725 and the bias is positive, for a break through 1.1836, towards 1.2050 zone. The market could remain on hold till ECB rate announcement today and unwind a bullish move afterwards.

resistance
intraday	intraweek
1.1830	1.1830
1.1900	1.2060

support
intraday	intraweek
1.1710	1.1480
1.1650	1.1300

resistance

intraday

intraweek

1.1830

1.1900

1.2060

support

intraday

intraweek

1.1710

1.1480

1.1650

1.1300

USD/JPY Current level - 109.93

The short-lived spike to 110.80 was the final leg of the upmove since 108.10 low and my outlook is bearish, for a slide towards 109.20, en route to 107.90.

resistance
intraday	intraweek
110.70	111.40
111.40	114.40

support
intraday	intraweek
109.20	107.80
107.80	106.70

resistance

intraday

intraweek

110.70

111.40

114.40

support

intraday

intraweek

109.20

107.80

106.70

GBP/USD Current level - 1.3405

Yesterday's dip to 1.3306 should be enough to complete the consolidation pattern below 1.3460 and my outlook is already bullish, for a break through the mentioned hurdle, towards 1.3620 area.

resistance
intraday	intraweek
1.3460	1.3618
1.3620	1.3990

support
intraday	intraweek
1.3290	1.3210
1.3290	1.3040

resistance

intraday

intraweek

1.3460

1.3618

1.3620

1.3990

support

intraday

intraweek

1.3290

1.3210

1.3290

1.3040

Author

Stoyan Mihaylov

DeltaStock.com

Stoyan Mihaylov, 42 years old, a Financial Analyst at Deltastock Inc, has an sixteen-year background as a senior FX Dealer, trading spot and outright forwards.

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