Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jan 29 09 10:19 GMT |

EUR/USD Current level-1.3267 EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are rising, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721. Monday's break above 1.3080 confirmed, that a short-term bottom has been set at 1.2769 and the pair is in an uptrend towards 1.4135. After yesterday's FOMC statement the pair was vastly sold-off to 1.3102 and currently the downtrend from 1.3328 is intact, with crucial level above 1.3117. Resistance Support intraday intraweek intraday intraweek 1.3328 1.3530 1.3012 1.2769 1.3382 1.3749 1.2943 1.2557 USD/JPY Current level - 90.19 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 Still in the broad consolidation above 87.12 and there are no signs of topping so far. Only below 88.43 the piar will enter a fast downtrend towards 86.31 and 83.01. Intraday support comes at 89.46 and nice resistance on the upside is 91.26. Resistance Support intraday intraweek intraday intraweek 90.83 93.83 88.35 87.12 91.59 97.48 87.12 83.01 GBP/USD Current level- 1.4093 The pair is in a the last phase of the downtrend from 2.0153. Trading is situated below the 50- and 200-day SMA, currently projected at 1.5505 and 1.8341. Monday's break above 1.3911 confirmed, that a local bottom has been set at 1.3506 and currently an uptrend is on the run, towards 1.4620. Keeping in mind, that the internal structure of the rise from 1.3506 is not an impulsive one, but a clearly corrective in nature, we have to accept the current uptrend, being only a corrective phase, a part of the downtrend since 1.5722. Nevertheless, intraday bias is positive, well supported at 1.4021. Resistance Support intraday intraweek intraday intraweek 1.4260 1.4374 1.4020 1.3372 1.4374 1.5727 1.3920 1.30+ 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.