Forex Technical Analysis EUR/USD

Daily Forex Technicals | Written by DeltaStock Inc. | Nov 24 08 09:28 GMT |

Current level-1.2598 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. The expected dip reached 1.2421 and we think, that is enough for the pair to begin a significant uptrend towards 1.3281, en route to 1.3760 . On the larger frames we still think, that a break above 1.2811 will trigger strong uptrend towards 1.3281 and 1.3760. Resistance Support intraday intraweek intraday intraweek 1.2601 1.2811 1.2461 1.2331 1.2693 1.3281 1.2412 1.20+ USD/JPY Current level - 95.27 The pair is in the second part of the broad consolidation since 90.95 short-term bottom, aiming at 103.52. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76. As expected, last week's dip was limited to 93.53 and we think, that the pair reversed at that level, setting the beginnig of an uptrend towards 100.53. Resistance Support intraday intraweek intraday intraweek 95.96 99.86 94.86 93.35 97.48 103.52 94.46 86.01 GBP/USD Current level- 1.4907 The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels around 1.45+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.8391 and 1.9421. Still ranging without a clear direction and only a break above 1.5250 will set the stage for the next upmove towards 1.6103. Intraday bias is negative for 1.4712. Resistance Support intraday intraweek intraday intraweek 1.5076 1.5270 1.4812 1.45+ 1.5167 1.6490 1.4653 1.4168 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.