Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Oct 16 09 08:59 GMT |

EUR/USD Current level-1.4939 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 consolidation below 1.4967 is still underway and is expected to target 1.4842 again and probably even 1.4812 important support area. The bias on the larger frames continues to be positive for 1.5104 with support at 1.4812 and risk limit below 1.4681. Resistance Support intraday intraweek intraday intraweek 1.4967 1.5104 1.4842 1.4680 1.5104 1.6040 1.4812 1.4444 USD/JPY Current level - 90.93 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 broke through 89.90 and 90.40 resistance and is in a clear uptrend targeting 92.10 area. Intraday bias is positive with support around 90.45 and crucial level at 90.19. Resistance Support intraday intraweek intraday intraweek 91.60 92.40 90.45 88.01 92.10 97.79 89.90 83.53 GBP/USD Current level- 1.6279 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. With the recent peak at 1.6398 probably the uptrend is losing some momentum and a break below 1.6250 support area will signal a larger corrective pattern towards 1.6120 main support. Intraday bias is negative with resistance at 1.6320 and crucial level at 1.6360. Nearest support comes at 1.6250 Resistance Support intraday intraweek intraday intraweek 1.6320 1.6468 1.6250 1.5706 1.6360 1.7042 1.6130 1.5352 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.