Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jul 21 08 08:49 GMT |

EUR/USD Current level-1.5879 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. The rebound from recent bottom at 1.5781 is more corrective in nature than impulsive, but we still wait for a break above 1.5893 to target 1.5951 and probably 1.5991. After breaking above 1.5893, crucial for the uptrend will become Friday's intraday low at 1.5806. Today's strategy: Buy on a break above 1.5887, stop below 1.5843, target projected at 1.5944. Resistance Support intraday intraweek intraday intraweek 1.5891 1.60-sentiment 1.5811 1.5537 1.5951 1.6216 1.5763 1.5301 USD/JPY Current level - 106.56 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 advance above 106.27 has rejected our idea for prolonged consolidation between 104.37 and 105.91, so we are rather neutral till we see a break above 107.31, that will set new target at 109.51. Nevertheless we favor the idea, that range bound trading is to be preferred, below 107.10 and above 105.13. Intraday a minor downtrend is on the run, towards 105.88. resistance can be found at 106.71. Today's strategy: sell for 105.88 and partially for 105.43. Stop above 106.83. Resistance Support intraday intraweek intraday intraweek 107.10 108.66 105.88 103.83 107.75 109.51 105.16 100.00 GBP/USD Current level- 1.9935 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. Still consolidating after 2.0154 peak and we are tempted to think, that this minor downtrend is coming to an end soon and a reversal is to be expected around 1.9881-47 for advance towards 2.0067, en route to 2.0145. Today's strategy : Buy on a break above 1.9996, stop below intraday low, first target 2.0061, second is TBD later. Resistance Support intraday intraweek intraday intraweek 1.9996 2.0274 1.9963 1.9477 2.0073 2.0397 1.9901 1.9192 DeltaStock Inc. - Online Forex & Securities Broker www.deltastock.com 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.