Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Nov 03 09 09:10 GMT |

EUR/USD Current level-1.4767 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 pair is still in the consolidation pattern above 1.4680 and we feel, that this corrective phase is close to its end, so expect a break below 1.4680 to trigger a sell-off towards 1.4593, en route to 1.4450. Intraday crucial level comes at 1.4806, followed by the dynamic resistance at 1.4840. Resistance Support intraday intraweek intraday intraweek 1.4806 1.5063 1.4680 1.4444 1.4860 1.6040 1.4593 1.4190 USD/JPY Current level - 90.17 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 minor support at 89.83 provoked a rise towards our target at 90.80 and the pair peaked at 90.70. Current bias is negative below 90.14 support, towards 89.53. On the larger frames it looks like the focus is still set on 91.30 resistance, but a break above 90.30 is needed to confirm such an outlook Resistance Support intraday intraweek intraday intraweek 90.30 92.40 90.14 88.01 90.86 97.79 89.53 83.53 GBP/USD Current level- 1.6353 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. Still in the consolidation pattern above 1.6340, but the pair is gathering momentum and the bias is negative for 1.6250, en route to 1.6130. Intraday crucial level on the upside is 1.6402. Resistance Support intraday intraweek intraday intraweek 1.6402 1.6752 1.6340 1.6130 1.6513 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.