Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Oct 21 09 09:04 GMT |

EUR/USD Current level-1.4959 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. Although there was a downward attempt, bottoming at 1.4883, the pattern below 1.4993 seems rather corrective in nature and our target at 1.5104 remains unchanged. Crucial on the downside is 1.4828 support Resistance Support intraday intraweek intraday intraweek 1.4996 1.5104 1.4883 1.4680 1.5104 1.6040 1.4828 1.4444 USD/JPY Current level - 90.67 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. The pair bottomed at 90.04, completing the consolidation below 91.34 and the bias is positive for 92.10. The resistance at 90.90 is to be considered a trigger for the expected upmove and crucial is 90.06. Resistance Support intraday intraweek intraday intraweek 90.90 92.40 90.40 88.01 91.40 97.79 89.70 83.53 GBP/USD Current level- 1.6484 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 above 1.6446 dynamic resistance cleared the road all the way up to 1.67+ levels. Current bias is still positive and aims to break above 1.6490 minor high, en route to 1.6612 and 1.67+. Crucial on the downside is 1.6327 low Resistance Support intraday intraweek intraday intraweek 1.6490 1.6752 1.6327 1.5706 1.6612 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.