Daily Technical Analysis-The euro continues to lose value against the dollar

EUR/USD Current level - 1.1807

The euro continues to lose value against the dollar and, despite its short-term correction from Wednesday, during yesterday's trading session the pair was down again. The forecasts are that this downward movement will continue and the pair will focus on a test of the local bottom and important support at 1.1773. The first important resistance is at 1.1891. During today's trading session, investors' attention will be focused on the data on the consumer price index for the Eurozone (09:00 GMT).

USD/JPY Current level -  109.99

Although in the first hours of today's trading session the currency pair saw an upward movement, the forecasts are that it will be short-term, after which the downward movement will continue. The first important support is the level at 109.53 and, if it is not broken, a short-term correction may follow. Important resistance is the level at 110.40.

GBP/USD Current level - 1.3824

Since the beginning of the week, the currency pair is in a relatively narrow range between 1.3909 and 1.3795 and these are the critical support and resistance. As a rule, if any of them is broken, this will determine the direction of the subsequent movement. However, expectations are for a downward movement and strengthening of the dollar against the pound.

DAX30 Current level - 15618

The German index is in a corrective phase after testing but failed to break the key resistance and a record high at 15807. The correction is projected to be short-term and limited by key support at 15358, after which the uptrend will recover and the index could test and break the said key resistance at 15807.

US30 Current level -  34948

The US blue-chip index has been consolidating since the beginning of the week, but the uptrend has not been broken and expectations are that the uptrend will return soon and the index will set new records. The first important resistance is at 35010, followed by 35062 and the record level at 35092. Critical support is at 34125.

Disclaimer

This information has been prepared for information only and does not constitute an offer or commitment. This information does not constitute investment advice as defined by the rules of the FCA.