Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Sep 25 09 09:16 GMT |

EUR/USD Current level-1.4680 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. Yesterday's test of 1.4611 support failed and current intraday bias is slightly positive, well supported at 1.4660. A break below 1.4611 will signal, that a larger corrective phase is on the run, targeting 1.4524, en route to 1.4444. We still favor the idea, that new highs lie ahead, but confirmation will come with a break above 1.4801. Resistance Support intraday intraweek intraday intraweek 1.4801 1.50+ 1.4660 1.4611 1.4911 1.6040 1.4611 1.3746 USD/JPY Current level - 90.56 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. Still in the consolidation pattern above 90.12 and current bias remains negative with a resistance at 90.83. Resistance Support intraday intraweek intraday intraweek 90.86 93.40 90.12 88.64 91.62 101.45 --- 87.12 GBP/USD Current level- 1.6011 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. Yesterday's break below 1.6111 support area did activate a reversal formation on the daily frame, targeting 1.5352-1.50+ area with crucial level above 1.6458. Intraday bias is positive with a risk limit below 1.5979, targeting 1.6086, en route to 1.6110-30. Current consolidation will aim to correct the slide 1.6467-1.5916 Resistance Support intraday intraweek intraday intraweek 1.6086 1.6467 1.5980 1.5352 1.6130 1.7042 1.5916 1.50+ 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.