Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Sep 30 09 08:56 GMT |

EUR/USD Current level-1.4604 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. With the recent low at 1.4524 the pair lost its negative momentum and although there is a possibility for one more intraday slide to 1.4564, a test of 1.4720 resistance seems inevitable at the moment. On the 4 h. chart the bias remains neutral in the 1.4444-4842 range Resistance Support intraday intraweek intraday intraweek 1.4644 1.50+ 1.4564 1.4444 1.4719 1.6040 1.4512 1.3746 USD/JPY Current level - 89.76 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. Yesterday's test at 90.40 marked a reversal on the lower frames and the bias is negative for 89.10 with nearest support around 90.02 Resistance Support intraday intraweek intraday intraweek 90.34 93.40 89.12 87.12 91.62 101.45 88.42 83.53 GBP/USD Current level- 1.6060 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 break above 1.6030 confirmed, that the rebound from 1.5766 comes from a larger degree and is heading towards 1.6110-30 major resistance. We still favor the idea, that current test will fail and the direction will be reversed for 1.5766, en route to 1.5352. Intraday bias is positive with a support at 1.6030, followed by the crucial 1.5920. Expect a reversal below 1.6130 to target directly the dynamic support around 1.5876. Resistance Support intraday intraweek intraday intraweek 1.6130 1.6468 1.6030 1.5352 --- 1.7042 1.5876 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.