Daily Forex Technicals | Written by DeltaStock Inc. | Aug 05 08 11:09 GMT |
EUR/USD
Current level-1.5509
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 between the 50- and 200-Day SMA, currently projected at 1.5677 and 1.5181.
With yesterday's high at 1.5629 obviously the consolidation since 1.5519 (30 July) was completed and now the downtrend has been renewed towards 1.5461. Crucial on the upside is 1.5629. Market participants will expect Fed's decision and FOMC's statement later today at 14:15 NYT.
Today's strategy: Stand aside.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.5631 | 1.60-sentiment | 1.5461 | 1.5461 |
| 1.5701 | 1.6216 | --- | 1.5301 |
USD/JPY
Current level - 107.72
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.
Obviously 108.44 is a tough resistance level and we rather prefer the idea, that the pair is entering a larger corrective phase below 108.44 and above 106.06. Yesterday's spike-high has reached precisely our target at 108.37, thus setting a local top at that level, finalizing the rise from 106.59 (25 July). Now a minor downtrend is on the run, targeting 106.61 with an intraday resistance, projected at 108.14.
Today's strategy: Stand aside.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 108.14 | 108.66 | 107.28 | 106.06 |
| 108.66 | 109.51 | 106.61 | 100.00 |
GBP/USD
Current level- 1.9546
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 below the 50- and 200-day SMA, currently projected at 1.9781 and 1.9913.
Last week the pair managed to break below the dynamic support at 1.9817, reaching low today at 1.9683. Only above 1.9634 it will be clear. that a local bottom is in place and the slide from 1.9929 is already over. Outlook remains bearish, with crucial resistance at 1.9719 and target at 1.9443.
Today's strategy : Stand aside.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.9861 | 2.0153 | 1.9534 | 1.9443 |
| 1.9971 | 2.0397 | 1.9443 | 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.
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