Forex Technical Analysis
EUR/USD
Current level - 1.2713
EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.4206.
Current rebound above the dynamic support at 1.2675 is only a minor corrective pattern and it should be limited below 1.2770, before next leg downwards, to 1.2470 main target.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 1.2770 |
1.2920 |
1.3080 |
1.3335 |
| 1.2675 |
1.2620 |
1.2587 |
1.2475 |
Profit-taking affects gold curbing silver and platinum
USD/JPY
Current level - 83.63
The pair is in a broad consolidation above 84.78 short-term low. Trading is situated below the 50- and 200-day SMA, currently projected at 92.60 and 91.06.
Finally, the pair broke through 83.59 low and with the current resistance at 84.01 the overall bias is negative for 82.50, en route to 80.+ sentiment area. Crucial on the upside is 85.22.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 84.05 |
85.22 |
86.50 |
93.70 |
| 83.30 |
82.50 |
82.50 |
79.60 |
GBP/USD
Current level - 1.5461
The pair is in an uptrend after bottoming at 1.4226. Trading is situated above the 50- and 200-day SMA, currently projected at 1.4986 and 1.5539.
Today's impulsive rise from 1.5295 reached 1.5490 resistance and signals, that the downtrending pattern since 1.5590 has been completed. As there is no enough technical info on the whole slide from 1.5999 we are rather neutral on the 2 and 4h. charts. The intraday bias is positive, well supported at 1.5410 with an initial resistance at 1.5490, followed by 1.5595.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 1.5490 |
1.5595 |
1.5700 |
1.6460 |
| 1.5410 |
1.5290 |
1.5118 |
1.4810 |
|
