Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Feb 16 09 10:05 GMT |

EUR/USD Current level-1.2748 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. Unfortunately, today's gap took away the bullish momentum and 1.2705 support is put on test again. We still do think, that this level will hold for now, at least for an intraday rise towards 1.2860. Resistance Support intraday intraweek intraday intraweek 1.2945 1.3092 1.2853 1.2746 1.2997 1.3328 1.2811 1.2547 USD/JPY Current level - 91.67 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. With the recent peak at 92.13 the pair has tested again the 92.23 resistance and reversed on the lower frames, so intraday bias is negative for 90.73. Beyond 92.23 next resistance lies at 93.12. Resistance Support intraday intraweek intraday intraweek 92.12 93.12 90.73 87.12 92.23 97.48 89.53 83.01 GBP/USD Current level- 1.4187 The pair is in a larger corrective phase towards 1.60+, after bottoming at 1.3506. Trading is situated below the 50- and 200-day SMA, currently projected at 1.5505 and 1.8341. With a gap almost 100 pips, the bias is bearish, but keep in mind, that recent low at 1.4137 is a good support, followed by the important on the daily frame 1.4020-50 zone. Intraday we favor a minor uptrend towards 1.4360 in order to fill last night's gap, as a break above 1.4260 will confirm our idea. An eventual slide below 1.4137 will target the 1.4020-50 zone. Resistance Support intraday intraweek intraday intraweek 1.4260 1.4590 1.4137 1.4020-50 1.4365 1.5727 1.4050 1.3506 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.