Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jun 24 09 09:58 GMT |

EUR/USD Current level-1.4125 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. The break above 1.3924 cleared the road all the way up to 1.4178, and keeping in mind the strength of yesterday's uptrend, further appreciation is to be expected, towards 1.4338 high. The intraday bias is positive with support around 1.4012 and yesterday's low at 1.3830 is crucial for the current rise on the 4h. chart. Resistance Support intraday intraweek intraday intraweek 1.4178 1.4338 1.4012 1.3746 1.4270 1.4720 1.3830 1.35+ USD/JPY Current level - 95.42 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. The pair is still in a clear downtrend towards 93.58. Intraday resistance comes at 95.88 and only a clear break above this level can turn current bias into positive. Resistance Support intraday intraweek intraday intraweek 95.88 99.74 95.01 93.58 97.30 101.45 93.82 91.62 GBP/USD Current level- 1.6492 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. Yesterday's test of the 1.6190 support failed and the pair sharply reversed, starting a new uptrend towards 1.6663. The intraday bias is positive and aims at 1.6663 resistance where a brief consolidation can be expected before breaking beyond, towards 1.70+ sentiment level Resistance Support intraday intraweek intraday intraweek 1.6570 1.6663 1.6399 1.5778 1.6663 1.7000 1.6190 1.5352 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.