Forex Technical Analysis
EUR/USD
Current level-1.2601
EUR/USD is in а downtrend, after finalizing the rebound from 1.3882 (Sept. 11 2008) at 1.3882. Technical indicators are falling, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4866.
The expected sell-off from 1.2957 appeared to be deeper than anticipated and will probably aim at 1.2468 before reversal. We still hold on to our view, that current slide from 1.3081 is corrective in nature, but a break above 1.2957 is needed to confirm our outlook and crucial is 1.2421.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 1.2673 |
1.2957 |
1.2957 |
1.3281 |
| 1.2573 |
1.2463 |
1.2421 |
1.2331 |
USD/JPY
Current level - 93.09
The pair is in the second part of the broad consolidation since 90.95 short-term bottom, aiming at 103.52. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76.
The previous low at 93.46 was taken out, so obviously the slide from 100.53 is not over yet and has potencial for 92.06 before reversal for 97.48. Intraday bias is still negative below 93.41, for 92.06.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 93.41 |
97.48 |
100.53 |
103.55 |
| 92.89 |
92.06 |
90.95 |
86.42 |
GBP/USD
Current level- 1.4882
The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels around 1.37+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.8391 and 1.9421
Since 1.5131 gave way and the important support at 1.4963 was broken, we will have to switch our view to negative, setting atrget at 1.3678. Confirmation will come with a break below 1.4711 and crucial is 1.5070. Intraday's consolidation should be limited below 1.5070 before next leg downwards, to 1.4557.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 1.4963 |
1.5070 |
1.5531 |
1.6301 |
| 1.4710 |
1.4557 |
1.4103 |
1.3678 |
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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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