Forex Technical Analysis
EUR/USD
Current level-1.5765
EUR/USD is in an uptrend from recent bottom at 1.5301, that was the final of the prolonged consolidation since 1.5909 (17 March 2008). Technical indicators are slowly rising and trading is situated above the 50- and 200-Day SMA, currently projected at 1.5609 and 1.5095.
Yesterday's minor top at 1.5944 has been confirmed to be a final of the rise from 1.5781, thus transforming it in a corrective one and as we mentioned in our previous report, with the break below 1.5829 a new target has been set at 1.5678. Intraday expect 1.5798 to cap the upside for a slide towards the dynamic 1.5715.
Today's strategy: Sell current levels for 1.5715, stop above 1.5798.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 1.5798 |
1.60-sentiment |
1.5731 |
1.5537 |
| 1.5951 |
1.6216 |
1.5678 |
1.5301 |
USD/JPY
Current level - 107.65
The pair has finalized its corrective uptrend from 95.75 mid-term bottom with the recent top at 108.59. Trading is situated below the 50- and 200-day SMA, currently projected at 105.81 and 107.25.
The consolidation phase below 107.10 ended a little bit sooner than expected and after breaking above 106.93 trigger-resistance a new target has been set at 108.44 and 109.36 later on. Intraday expect a bit of ranging below 107.82 and above 107.44 before renewing the rise towards 108.44.
Today's strategy: Buy on dips to 107.53 stop below 107.31, target 108.19
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 107.82 |
108.66 |
107.44 |
103.83 |
| 108.44 |
109.51 |
106.93 |
100.00 |
GBP/USD
Current level- 1.9913
The pair is in a broad consolidation above 1.9338 and below 2.0397. Technical indicators are flat on the higher time-frames and trading is situated above the 50- and 200-day SMA, currently projected at 1.9685 and 1.9982.
With the break below 1.9996 the possibility, that a new uptrend towards 2.2074 is on the run has been denied and obviously the pair will seek support around 1.9826 before reversing and heading upwards again. Expect downtrend from 2.0074 to continue towards 1.9826, where a bottom should be built for an advance back again above 2.00+.
Today's strategy : Stand aside.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 1.9982 |
2.0274 |
1.9901 |
1.9477 |
| 2.0074 |
2.0397 |
1.9826 |
1.9192 |
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RISK DISCLAIMER: 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, Delta Stock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Delta Stock Inc. 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. Delta Stock Inc. 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 notice.
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