Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Dec 22 08 10:02 GMT |

EUR/USD Current level-1.4067 EUR/USD is in an uptrend, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are rising, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721. The pair reached our target at 1.3880 and after dipping to 1.3821 reversed, climbing steadily above 1.3930. The uptrend from 1.3821 is intact and is expected to aim at 1.4190 and 1.4345. Current support can be found at 1.4046 and crucial is 1.3982. Resistance Support intraday intraweek intraday intraweek 1.4190 1.4345 1.4501 1.4865 1.4046 1.3982 1.3821 1.3280 USD/JPY Current level - 89.85 The pair has finalized its consolidation above 90.95 at 97.48 and the general downtrend has been renewed, targeting 79.86. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76. The rise from Friday's low at 88.43 has reached 90.23 and currently a downtrend emerged from that level, aiming at 89.44. More broadly speaking the pair is in the first part of the corrective pattern above 87.12, targeting 91.02. Resistance Support intraday intraweek intraday intraweek 90.02 90.23 91.02 97.48 89.18 87.12 86.31 79.83 GBP/USD Current level- 1.4951 The pair has finalized the downtrend from 2.0153 at 1.4477 and is currently in a broad consolidation towards 1.6676. Trading is situated below the 50- and 200-day SMA, currently projected at 1.5505 and 1.8341. Last week's sell-off reached 1.4806, failing to dip to our idealized target at 1.4761. Only above 1.5188 will be clear, that a bottom is already in place and the pair is on its way upwards, to 1.5722, en route to 1.6301. Resistance Support intraday intraweek intraday intraweek 1.5023 1.5188 1.5722 1.6301 1.4893 1.4761 1.4477 1.3678 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.