Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jan 30 09 10:35 GMT |

EUR/USD Current level-1.2873 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. The sell-off from 1.3328 is quite strong to be accepted as a corrective one, so we are rather neutral here, and only a break above 1.2929 will switch our view to 'bullish' for 1.3090 and 1.3263. A clear break below 1.2769 will target 1.2683. Resistance Support intraday intraweek intraday intraweek 1.2929 1.3328 1.2748 1.2769 1.3090 1.3749 1.2769 1.2557 USD/JPY Current level - 89.28 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 pair will enter a fast downtrend towards 86.31 and 83.01. Intraday support comes at 88.93 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- 1.4283 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 1.4220 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.