Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Dec 10 08 10:02 GMT |

EUR/USD Current level-1.2977 EUR/USD is in a 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 1.3292 and 1.4866. As expected, last week's dip to 1.2547 has built a reliable ground for next advance towards 1.3281. Intraday bias is negative towards 1.2930, before next leg upwards, to 1.3081. Resistance Support intraday intraweek intraday intraweek 1.2997 1.3115 1.2573 1.2421 1.3081 1.3281 1.2463 1.20+ USD/JPY Current level - 92.68 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. We believe, that Friday's low at 91.61 was the final of the downtrend from 97.48 and probably has finalized the slide since 100.53. We will expect the pair to mantain its positive bias, towards 93.56 and 94.69. Crucial is 91.61. Resistance Support intraday intraweek intraday intraweek 93.99 97.48 92.91 93.35 94.83 100.53 92.06 86.01 GBP/USD Current level- 1.4841 The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels around 1.37+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.8391 and 1.9421. Friday's dip was a little bit deeper than anticipated, but the pair has found good support at 1.4541, advancing lately all the way up to 1.5046. As expected the pair reversed below 1.5071 and is currently in a corrective phase above 1.4671. Expect a bounce from these levels for the final upwsing to 1.5102. Resistance Support intraday intraweek intraday intraweek 1.4963 1.5531 1.4512 1.4302 1.5070 1.6490 1.4356 1.4103 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.