Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jan 13 09 10:25 GMT |

EUR/USD Current level-1.3296 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. Our target at 1.3222 was precisely hit earlier this morning, so current rebound is to be considered as a retest of the 1.3301-09 resistance, before next leg downwards, to 1.3077-95. Only above 1.3342, the slide from 1.3445 will be over and 1.3222 could be defined as a local bottom of the current downtrend. Resistance Support intraday intraweek intraday intraweek 1.3341 1.3959 1.3222 1.3077 1.3445 1.4362 1.3077 1.2557 USD/JPY Current level - 88.96 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 strong impulse from 94.64 confirms our view, that the rise 87.12-94.64 was corrective in nature, preceding next leg downwards to 86.31 and 83.01. Intraday bias is again negative for 87.69 with a risk limit above 89.53. Resistance Support intraday intraweek intraday intraweek 89.53 93.83 88.90 87.12 91.59 97.48 88.12 83.01 GBP/USD Current level- 1.4689 The pair is in a downtrend from 2.0153, targeting 1.3768. Trading is situated below the 50- and 200-day SMA, currently projected at 1.5505 and 1.8341. As expected, the pair broke through the crucial 1.4896, confirming our view, that a top at 1.5372 is already in place and the bias is negative for 1.4493. On the larger frames the pair is caught in the 1.4370-1.5727 range. Resistance Support intraday intraweek intraday intraweek 1.4753 1.5722 1.4596 1.4103 1.4896 1.6301 1.4493 1.3768 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.