Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Feb 24 09 08:58 GMT |

EUR/USD Current level-1.2718 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. After yesterday's break below 1.2874 confirmed, that a top is set at 1.2996 - a final of the rise from 1.2554. While current slide from 1.2996 holds above 1.2554 it is to be considered as a corrective one, preceding next leg upwards, to 1.3092. Intraday resistance comes at 1.2771, followed by 1.2847. Crucial is 1.2554, as if we see a break below that level, trading will focus on 1.2421 again Resistance Support intraday intraweek intraday intraweek 1.2771 1.31+ 1.2665 1.2421 1.2847 1.3328 1.2554 1.2330 USD/JPY Current level - 95.11 A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 90.78 and 100.29. With the break above 94.64 the bias remains positive for 97.48 and probably 100.01. Crucial from an intraday point of view is 94.25 and important on the 4 h. chart is 92.62. Resistance Support intraday intraweek intraday intraweek 95.76 97.48 94.25 89.80 97.48 100.01 92.62 87.12 GBP/USD Current level- 1.4505 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. A minor consolidation unfolds below yesterday's top at 1.4662 and it has some potential for 1.4376 before next leg upwards, to 1.4986. Resistance Support intraday intraweek intraday intraweek 1.4581 1.50+ 1.4446 1.4020-50 1.4662 1.5722 1.4371 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.