Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jul 13 09 10:11 GMT |

EUR/USD Current level-1.3931 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 pair is in a corrective mode after Friday's low at 1.3878 and we hold on to our view, that current consolidation precedes a slide towards 1.3746. Intraday bias is slightly positive for 1.4010, where a reversal should be expected, before deeper drowning below 1.3878. Resistance Support intraday intraweek intraday intraweek 1.4010 1.4201 1.3878 1.3746 1.4072 1.4338 1.3746 1.35+ USD/JPY Current level - 92.21 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. Still in the 93.82-91.72 range and we are expecting negative bias to be renewed soon, for a break below 91.72, towards 89.60. Resistance Support intraday intraweek intraday intraweek 93.58-82 99.74 92.12 89.60 96.27 101.45 91.72 87.12 GBP/USD Current level- 1.6072 The pair is in an downtrend, after peaking at 1.6746. Trading is situated above the 50- and 200-day SMA, currently projected at 1.4778 and 1.5510. Obviously the sell from last week's high at 1.6374 is not corrective in nature and we are tempted to think, that current slide is a part of a larger consolidation above 1.5982, preceding a fast downtrend towards 1.5352 support. Nevertheless, while the pair holds above 1.5983 there is a chance for on more upswing towards 1.6281, which will be confirmed after a break above 1.6150 resistance level. Resistance Support intraday intraweek intraday intraweek 1.6150 1.6746 1.6015 1.5778 1.6283 1.7440 1.5879 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.