Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Aug 22 08 08:26 GMT |

EUR/USD

Current level-1.4876

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 1.4629 and current target remains 1.4951, but with yesterday's minor top at 1.4906, intraday expect a break below 1.4861 to target 1.4810-16, before the final swing unwinds upwards to 1.4942.

Today's strategy: Stand aside.
Resistance Support
intraday intraweek intraday intraweek
1.4906 1.4950 1.4621 1.4621
1.4950 1.5507 1.4563 1.4438

USD/JPY

Current level - 109.04

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.

After reaching a local bottom at 108.17, the pair entered a larger corrective phase towards 109.55. We expect the trading activity to be limited below that resistance, for renewing the downtrend towards 106.36.

Today's strategy: Stand aside.
Resistance Support
intraday intraweek intraday intraweek
109.51 111.03 108.37 108.37
111.03 112.36 107.65 103.83

GBP/USD

Current level- 1.8724

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.

Our minor target at 1.8803 has almost been reached, so downward phase is likely to follow, towards 1.8681 before one final attempt to 1.8918. Below 1.8539 it will be clear, that the downtrend has been renewed for 1.7932.

Today's strategy : Stand aside.
Resistance Support
intraday intraweek intraday intraweek
1.8803 1.9929 1.8683 1.84+
1.8918 2.0153 1.8539 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.