Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Aug 11 08 08:58 GMT |

EUR/USD Current level-1.5051 EUR/USD is in а downtrend from 1.6039 (15 July 2008). Technical indicators are descending and trading is situated below the 50- and 200-Day SMA, currently projected at 1.5677 and 1.5227. Friday's consolidation managed to stay below 1.5251 and the downtrend was renewed, accelerating below the 1.50+ support. We think, that today's intraday bottom at 1.4908 is a final of the 1.5507-1.4908 sell-off, so a consolidation is unfolding, that should challenge 1.5103. Ofcourse the general downtrend from 1.6039 is still intact and after brief consolidation below 1.5143, one more leg towards 1.4742 i sexpected to complete the structure since 1.6039. Intraday be prepared for an upward bias, targeting 1.5103. Today's strategy: Trade the 1.4925-1.5143 range Resistance Support intraday intraweek intraday intraweek 1.5067 1.5301 1.4925 1.4742 1.5103 1.5507 1.4908 1.4438 USD/JPY Current level - 109.88 The pair is still in the broad consolidation since 95.75 short-term bottom, aiming at 111.03. Trading is situated above the 50- and 200-day SMA, currently projected at 107.09 and 106.62. As expected the pair broke through 109.89, reaching high at 110.36. From that level a minor consolidation is on the run, that will challenge the 108.93 support before renewing the uptrend towards 111.03. Intraday expect downward move, to 109.14. Today's strategy: Sell for 109.14, stop above 110.19. Resistance Support intraday intraweek intraday intraweek 110.14 111.03 109.14 108.59 110.36 112.36 108.59 103.83 GBP/USD Current level- 1.9231 The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels below 1.85+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.9752 and 1.9853. A local bottom is set at 1.9124, that may be enough to provoke a brief consolidation above that level , for a re-test of the 1.9338 resistance. Today's strategy : Stand aside. Resistance Support intraday intraweek intraday intraweek 1.9338 1.9929 1.9124 1.9000 1.9416 2.0153 1.9067 1.8730 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.