Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Apr 23 09 09:10 GMT |

EUR/USD Current level-1.3012 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 1.3035 and 1.3589. Still in the consolidation above 1.2889, the pair is testing the important 1.3092 resistance zone. We hold on to our view, that current test will fail and new downtrend will emerge from current levels, targeting 1.2738, en route to 1.2579. Resistance Support intraday intraweek intraday intraweek 1.3092 1.3582 1.2867 1.2576 1.3390 1.3740 1.2738 1.2328 USD/JPY Current level - 98.27 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. The downtrend is intact with nearest resistance at 98.86, followed by the crucial 99.75. Further drowning is to be expected, towards 95.83 and 93.58 Resistance Support intraday intraweek intraday intraweek 98.79 102.16 97.76 93.38 99.75 103.55 96.01 89.82 GBP/USD Current level- 1.4554 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 1.4398 and 1.5977. As expected, the downtrend from 1.5065 broke through 1.4583 support and is aiming at 1.4111 and 1.38+. Intraday bias is neutral, but a break below 1.4450 is expected to trigger a sell-off towards 1.4112. Resistance Support intraday intraweek intraday intraweek 1.4582 1.5065 1.4450 1.4107 1.4735 1.5727 1.4312 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.