Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Apr 29 09 07:13 GMT |

EUR/USD Current level-1.3196 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. With yesterday's spike low to 1.2965, the downtrend from 1.3296 has been reversed and the bias is positive for 1.33+. Intraday support comes at 1.3162 and crucial is 1.3119. On the 4 h chart targets are 1.3391 and 1.3580. Resistance Support intraday intraweek intraday intraweek 1.3212 1.3391 1.2986 1.2576 1.3296 1.3740 1.2889 1.2328 USD/JPY Current level - 96.72 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. With the recent bottom at 95.64, the pair has entered a larger corrective phase with a minimum target at 97.70 resistance zone. Intraday bias is positive, well supported above 96.61, for 97.70. Resistance Support intraday intraweek intraday intraweek 97.01 102.16 95.64 93.38 97.70 103.55 94.56 89.82 GBP/USD Current level- 1.4707 The pair is in a broad corrective phase, after bottoming at 1.3506. Trading is situated between the 50- and 200-day SMA, currently projected at 1.4422 and 1.5896. As expected, yesterday's minor downtrend ended above 1.4510 and an uptrend emerged, targeting 1.4772-4821 zone. Current upmove is expected to be the last wave of the consolidation pattern above 1.4398, preceding sharp slide towards 1.4112. Important is 1.4510, as this level will be the trigger of the expected sell-off. Resistance Support intraday intraweek intraday intraweek 1.4771 1.5065 1.4504 1.4107 1.4846 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.