Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | May 15 09 06:52 GMT |

EUR/USD Current level-1.3615 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 1.3064 and 1.3524. Yesterday's rebound from 1.3525 is just a part of the corrective wave below 1.3740 and there is still potential for one more downswing towards 1.3442-60 before advancing towards 1.3921. Nevertheless, a break above 1.3703 will state that the ranging mode is over and the uptrend is renewed Resistance Support intraday intraweek intraday intraweek 1.3740 1.3740 1.3921 1.4719 1.3590 1.3442 1.3244 1.2328 USD/JPY Current level - 95.89 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 negative bias has been sustained and the pair is targeting 93.58 support zone. Immediate resistance on the upside comes at 96.70. Resistance Support intraday intraweek intraday intraweek 97.12 97.90 100.74 107.93 96.03 95.64 93.58 87.12 GBP/USD Current level- 1.5218 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. Still in the consolidation below 1.5352, that precedes an advance towards 1.5727. The intraday bias is neutral and will transform in bullish if we see a break above 1.5330. Important support comes at 1.4942. Resistance Support intraday intraweek intraday intraweek 1.5270 1.5370 1.5370 1.5727 1.5059 1.5090 1.4942 1.3103 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.