Forex Technical Analysis
EUR/USD
Current level-1.3912
EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.3064 and 1.3524.
Although yesterday's peak at 1.4001 provoked sell-off to 1.3870, there are still no convincing signs, that the expected downtrend towards 1.35+ has already began. Wait for a clear break below 1.3830, that should trigger a sharp slide towards 1.3721.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 1.4050 |
1.4178 |
1.3830 |
1.3746 |
| -- |
1.4338 |
1.3721 |
1.35+ |
USD/JPY
Current level - 96.02
A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated below the 50- and 200-day SMA, currently projected at 98.13 and 97.75.
After bottoming at 95.51 the pair is in a larger consolidation pattern below the 97.10-30 resistance zone. While the pair holds below 97.10-30 the focus will remain set at our initial target at 93.58.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 97.10-30 |
99.74 |
95.50 |
93.82 |
| 98.96 |
101.45 |
94.64 |
91.62 |
GBP/USD
Current level- 1.6380
The pair is in an uptrend, after bottoming at 1.3506. Trading is situated above the 50- and 200-day SMA, currently projected at 1.4778 and 1.5510.
Yesterday's sell-off bottomed at 1.6187 and sharp reversal followed, provoking a rise towards 1.6397. The intraday bias is positive with a maximum target at 1.6572, but we will keep our view, that the pair has no potential for breaking beyond 1.6623, so a sharp reversal is to be expected below 1.6572 for a sell-off towards 1.5778 support. Important trigger on the downside is 1.6303.
| Resistance |
Support |
| intraday |
intraweek |
intraday |
intraweek |
| 1.6451 |
1.6663 |
1.6345 |
1.5778 |
| 1.6594 |
1.7000 |
1.6240 |
1.5352 |
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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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