Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jun 02 09 10:55 GMT |

EUR/USD Current level-1.4131 EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.3064 and 1.3524. Yesterday's peak at 1.4246 provoked a brief consolidation, which is expected to be limited above 1.4050 before next leg upwards to 1.4367. Resistance Support intraday intraweek intraday intraweek 1.4256 1.4367 1.4050 1.4050 1.4367 1.4719 -- 1.3740 USD/JPY Current level - 96.50 A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated below the 50- and 200-day SMA, currently projected at 98.13 and 97.75. We believe, that a larger corrective pattern is underway above 93.82, so expect one more slide towards 95.03 before final upswing towards 97.24-95. Intraday bias is negative for 95.03. Resistance Support intraday intraweek intraday intraweek 96.95 97.95 95.03 93.58 97.24 99.55 93.58 89.82 GBP/USD Current level- 1.6375 The pair is in an uptrend, after bottoming at 1.3506. Trading is situated above the 50- and 200-day SMA, currently projected at 1.4778 and 1.5510. With the recent top at 1.6496 the pair has entered a larger corrective phase, that is expected to be limited above 1.6291 before the final leg towards 1.6693. Resistance Support intraday intraweek intraday intraweek 1.6496 1.6693 1.6245 1.5916 1.6543 1.7000 1.6180 1.50+ 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.