Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Sep 24 09 08:52 GMT |

EUR/USD Current level-1.4757 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 1.4134 and 1.3523. Still in the consolidation pattern below 1.4842 and there are no signs of bottoming so far, so allow one more dip to 1.4680 support area before renewing the rise for 1.4911. Crucial remains 1.4611. Resistance Support intraday intraweek intraday intraweek 1.4842 1.50+ 1.4708 1.4611 1.4911 1.6040 1.4680 1.3746 USD/JPY Current level - 90.61 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 94.86 and 94.84. As expected, the pair tested 91.62 resistance and the overall downtrend is back on track. Intraday bias is negative with resistance at 90.77 and target 90.12 Resistance Support intraday intraweek intraday intraweek 90.77 93.40 90.12 88.64 91.62 101.45 --- 87.12 GBP/USD Current level- 1.6280 The pair is in a downtrend after peaking at 1.7042. Trading is situated between the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258. The pair reversed a bit higher, than expected, at 1.6468. We still think, that current sell-off is the second part of the consolidation pattern above 1.6110 daily support and is likely to peak around 1.6546 before breaking below 1.6110, towards 1.5352 weekly support zone. Intraday bias is extremely negative with resistance around 1.6315 and only a break above 1.6386 will signal, that the third part of the corrective wave is underway. Resistance Support intraday intraweek intraday intraweek 1.6315 1.6546 1.6212 1.6111 1.6468 1.7440 1.6130 1.5350 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.