Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Oct 30 09 10:11 GMT |

EUR/USD Current level-1.4818 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. Unfortunately the pair broke through 1.4767 resistance without a final spike-low below 1.4678, thus stating that a bottom is already in place. Intraday bias is slightly negative with a potential for 1.4767, but the overall outlook is already neutral in the 1.4930-1.4760 range. Resistance Support intraday intraweek intraday intraweek 1.4860 1.5063 1.4767 1.4444 1.4930 1.6040 1.4678 1.4190 USD/JPY Current level - 90.99 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 rebound peaked at 91.60 and currently the pair is capped at 91.30 and well supported at 90.83. Later during the day a break below 90.83 is to be expected and it should target 90.20 support area again Resistance Support intraday intraweek intraday intraweek 91.30 92.40 90.83 88.01 91.60 97.79 90.20 83.53 GBP/USD Current level- 1.6539 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 break above 1.6490 resistance the focus is set back on 1.67+ highs. Intraday bias is negative with a potential for 1.6465, but keep in mind, that the structure of the slide is corrective in nature, so 1.6580 should be considered crucial on the upside. Resistance Support intraday intraweek intraday intraweek 1.6580 1.6699 1.6465 1.6130 1.6696 1.7042 1.6250 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.