Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Sep 28 09 09:27 GMT |

EUR/USD Current level-1.4622 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. The recent break below 1.4611 confirmed, that a larger corrective phase is on the run from 1.4842, targeting 1.4444 support. Intraday bias is slightly positive towards 1.4653, where a reversal should be expected, for next leg downwards, to 1.4493. 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 - 89.53 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. Recent break below 90.12 provoked a sharp sell-off towards 88.41, thus filling our target at 88.64 and currently the pair is in a corrective phase below 90.34, that should be followed by one more downward test of the 87.12 weekly low. Intraday bias is positive for 89.92 and 90.34 with a risk limit below 89.15. Current consolidation above 88.42 is expected to last minimum 4 trading sessions. Resistance Support intraday intraweek intraday intraweek 89.92 93.40 89.12 87.12 90.34 101.45 88.42 83.53 GBP/USD Current level- 1.5872 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. Friday's minor consolidation was limited to 1.6050 in its attempt to test the important break below 1.6110 and the downtrend was renewed, reaching local bottom at 1.5766. Current bias is corrective in nature and we expect 1.5915 to limit the upside for the next leg downwards, to 1.5352 weekly support. Resistance Support intraday intraweek intraday intraweek 1.5912 1.6130 1.5766 1.5352 1.6030 1.7042 --- 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.