Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Aug 24 09 09:12 GMT |

EUR/USD Current level-1.4316 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 1.4087 and 1.3463. A minor downtrend unfolds from last week's high at 1.4378 and the pair is currently testing 1.4267 support zone. We favor the idea, that a break below that level will aim directly at 1.4167, en route to 1.4006. Crucial on the upside is 1.4340 Resistance Support intraday intraweek intraday intraweek 1.4379 1.4444 1.4267 1.4006 1.4444 1.50+ 1.4160 1.3746 USD/JPY Current level - 94.47 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 95.30 and 94.91 The expected reversal took place at 93.40 and the pair is in a minor uptrend for 95.90. Crucial is 94.25 Resistance Support intraday intraweek intraday intraweek 95.10 98.90 94.25 91.67 95.90 101.45 93.07 87.12 GBP/USD Current level- 1.6476 The pair is in an uptrend, after bottoming at 1.6310. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6324 and 1.5155. With current high at 1.6623 the pair marked the beginning of a downtrend for 1.6374 and while 1.6521 resistance holds, the outlook will be negative for 1.6277. Resistance Support intraday intraweek intraday intraweek 1.6521 1.6752 1.6374 1.6475 1.6663 1.7440 1.6275 1.5778 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.