Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Oct 26 09 09:32 GMT |

EUR/USD Current level-1.5035 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 overall uptrend is intact with a crucial level at 1.4945. Intraday bias is also positive for 1.5063, en route to our target at 1.5104. Minor support can be found above 1.5011, followed by 1.4981. Resistance Support intraday intraweek intraday intraweek 1.5060 1.5104 1.5011 1.4680 1.5104 1.6040 1.4945 1.4444 USD/JPY Current level - 91.84 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. Our target at 92.10 has been precisely hit and the pair reversed, dipping to 91.57. Despite of current negative momentum, a real confirmation that a top is in place at 92.19 will be received with a break below 91.20 support area. Current bias is negative with resistance at 91.98 Resistance Support intraday intraweek intraday intraweek 92.10 92.40 91.57 88.01 92.40 97.79 91.20 83.53 GBP/USD Current level- 1.6296 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. As expected, the pair reversed sharply below 1.6752 resistance zone and the break below 1.6619 confirmed, that a top is in place at 1.6693. Keeping in mind, that there is no significant support between 1.6752 and 1.6130, current target is set at 1.6110-30 area. A minor consolidation is to be expected above 1.6250 with a potential for 1.6363 resistance. Crucial on the upside is the major resistance around 1.6490. Resistance Support intraday intraweek intraday intraweek 1.6363 1.6752 1.6250 1.6130 1.6490 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.