Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Mar 31 09 09:54 GMT |

EUR/USD Current level-1.3245 EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.2951 and 1.3834. Yesterday's low at 1.3112 was a test of the 1.3092 support zone and currently a larger corrective phase is on the run, targeting 1.3328 and probably 1.3410 resistance. Intraday bias is rather neutral, considering the ranging mode at the moment, but on the lower frames there is an uptrend for 1.3328, with a risk limit below 1.3210. Resistance Support intraday intraweek intraday intraweek 1.3328 1.3821-69 1.3090 1.2942 1.3410 1.4213 1.2942 1.2740 USD/JPY Current level - 98.17 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 94.12 and 99.36. After breaking above the 96.96 resistance, the pair advanced quickly towards the important zone around 98.98. A break beyond 98.98 will set a target in the 100.93-100.16 area. Resistance Support intraday intraweek intraday intraweek 98.98 99.69 97.56 92.28 99.69 103.55 93.58 89.82 GBP/USD Current level- 1.4314 The pair is in a corrective phase, after bottoming at 1.3506. Trading is situated between the 50- and 200-day SMA, currently projected at 1.4259 and 1.6470. With yesterday's low at 1.4106, the pair has entered a corrective phase, aiming at the 1.4403 resistance. Resistance Support intraday intraweek intraday intraweek 1.4353 1.4986 1.3960 1.3699 1.4403 1.5727 1.3823 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.