Forex Technical Analysis EUR/USD

Daily Forex Technicals | Written by DeltaStock Inc. | Oct 31 08 09:41 GMT |

Current level-1.2698 EUR/USD is in а downtrend, after finalizing the rebound from 1.3882 (Sept. 11 2008) at 1.3882. Technical indicators are falling, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4049 and 1.5194. After breaking below the 1.2996 support zone, a top was confirmed to be set at 1.3281, being the final of the rise from 1.2331. Intraday bias is negative, towards 1.2584 support, with initial resistance at 1.2745 and crucial level at 1.2865. On the larger frames we still think, that current sharp swings are parts of significant consolidation after the 1.2331 bottom before new lows below that level. Resistance Support intraday intraweek intraday intraweek 1.2745 1.2865 1.3507 1.3900 1.2651 1.2584 1.2584 1.2331 USD/JPY Current level - 96.98 The pair is in the second part of the broad consolidation since 95.75 short-term bottom, aiming at 97.63. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76 As expected the pair was sold-of from yesterday's 98.50 to our target at 96.45, but the minor downtrend is not yet completed, so while the trading stays limited below 97.72, there is a risk of one more drowning to 95.39. On the larger frames we still feel, that current decline from 99.71 is corrective in nature, preceding rise towards 102.42 . DJIA is in a bullish mode, towards 9 676, en route to 10 126. Resistance Support intraday intraweek intraday intraweek 98.96 99.71 102.41 103.55 97.12 96.45 90.95 86.31 GBP/USD Current level- 1.6206 The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels around 1.55+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.8391 and 1.9421. A larger corrective phase is underway, aiming at 1.5944 support before next leg upwards, to 1.6801. Intraday bias is negative, targeting 1.5944 with crucial level at 1.6395. Resistance Support intraday intraweek intraday intraweek 1.6225 1.6395 1.6801 1.70+ 1.6112 1.5944 1.5944 1.5271 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.