Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Oct 21 08 08:44 GMT |

EUR/USD Current level-1.3269 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 1.4595 and 1.5183. Obviously with yesterday's high at 1.3531 was completed the whole consolidation structure since 1.3261, so now the downtrend is renewed towards 1.2993. Intraday resistance comes at 1.3284 and we expect current minor corrective phase to be limited below that level, before breaking below 1.3236, en route to 1.3129. Crucial for the downtrend from 1.3531 is 1.3331. Resistance Support intraday intraweek intraday intraweek 1.3284 1.3531 1.3236 1.2993 1.3331 1.3786 1.3139 1.2484 USD/JPY Current level - 101.16 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. Last week's low at 97.83 was confirmed to be the final of the slide from 107.01, so we will expect further upward activity, towards 103.55 resistance zone. There is still not a clear signal, that the corrective phase above 97.83 is already over, so one more spike high to 103.55 resistance zone can not yet be ruled out. 102.15 is crucial for the current downtrend from 102.42. Resistance Support intraday intraweek intraday intraweek 102.15 103.55 100.53 97.83 102.41 109.10 99.83 90-sentiment GBP/USD Current level- 1.7125 The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels below 1.70+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.8391 and 1.9421. With yesterday's high at 1.7517 the consolidation from 1.7131 was finalized and the pair has renewed its downtrend towards 1.6799 and 1.6563. Intraday expect 1.7146 to limit the upside for the next sell-off towards 1.6924. Resistance Support intraday intraweek intraday intraweek 1.7146 1.7517 1.6924 1.6799 1.7517 1.80+ 1.6799 1.6563 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.