Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jul 23 09 09:57 GMT |

EUR/USD Current level-1.4231 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. Obviously a larger corrective phase is underway below 1.4274, so we still favor the negative outlook for 1.4160, en route to 1.4050. Resistance Support intraday intraweek intraday intraweek 1.4274 1.4338 1.4160 1.3746 1.4338 1.4720 1.4055 1.35+ USD/JPY Current level - 94.31 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. With yesterday's break above 93.75, the bearish momentum was lost and 94.88 resistance is to be tested again. Intraday bias is positive with a risk limit below 94.15. Resistance Support intraday intraweek intraday intraweek 94.88 96.52 94.15 89.60 -- 101.45 93.07 87.12 GBP/USD Current level- 1.6515 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. Yesterday's advance beyond 1.6382 and especially the break above 1.6416 did confirm a bottom at 1.6307 and the bias is positive for 1.6557. Intraday support comes at 1.6502 and a reversal around 1.6557 is to be expected, that should send the pair towards 1.63+ once again Resistance Support intraday intraweek intraday intraweek 1.6557 1.6746 1.6502 1.5778 1.663 1.7440 1.6430 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.