Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jul 27 09 07:41 GMT |

EUR/USD Current level-1.4247 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 the third leg of the minor corrective wave above 1.4117, so expect a reversal around current levels, that should initiate a downtrend below 1.4171, towards 1.4050 support zone. Intraday bias is still positive and the expected reversal will be confirmed after a break below 1.4225 Resistance Support intraday intraweek intraday intraweek 1.4274 1.4338 1.4171 1.3746 1.4338 1.4720 1.4050 1.35+ USD/JPY Current level - 94.82 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 minor consolidation below 95.29 and there is still a chance for on more downswing to 94.31 before next advance towards 96.12 resistance level. Resistance Support intraday intraweek intraday intraweek 95.29 96.52 94.31 89.60 96.52 101.45 93.07 87.12 GBP/USD Current level- 1.6488 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. After bottoming at 1.6379, the pair is in a minor uptrend, that is expected to peak around 1.6530 before next leg downwards, to 1.6292. The intraday bias is positive with a risk limit below 1.6470 support level. Resistance Support intraday intraweek intraday intraweek 1.6585 1.6746 1.6472 1.6030 1.6663 1.7440 1.6307 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.