Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Aug 14 08 09:35 GMT |

EUR/USD Current level-1.4915 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. Still in the broad consolidation since 1.4815 and we feel no need to change our outlook for 1.5081, while trading holds above 1.4815. After breaking beyond 1.4979, crucial will become current intraday low at 1.4850. Today's strategy: Stay on the long side for 1.5081, while above 1.4815. Resistance Support intraday intraweek intraday intraweek 1.4964 1.5081 1.5301 1.6039 1.4815 1.4742 1.4742 1.4438 USD/JPY Current level - 109.40 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. The important dynamic support at 108.37-59 managed to hold yesterday's sell and provoked nice rebound, all the way up to 109.74. Still it looks a little bit corrective in nature, so have in mind, that an eventual break below 108.83 will challenge (most probably-successfully) once more 108.37. Below 108.37 next support lies at 106.12. Today's strategy: Stand aside. Resistance Support intraday intraweek intraday intraweek 109.74 110.36 111.03 112.36 108.83 108.37 106.06 100.00 GBP/USD Current level- 1.8705 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. After breaking below 1.8931 the downtrend accelerated and reached minimum at 1.8620. We think, that this level is a final of the 1.9035-1.8620 downtrend, so a corrective phase is expected to challenge 1.8803 later today. Crucial for the expected consolidation is 1.8646. Today's strategy : Stand aside. Resistance Support intraday intraweek intraday intraweek 1.9125 1.9338 1.9929 2.0397 1.8646 1.8620 1.84+ 1.80-sentiment 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.