Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Nov 19 09 09:42 GMT |

EUR/USD Current level-1.4857 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 1.4793 and 1.3523. Yesterday's test of the dynamic resistance at 1.4990 failed and the pair is in a negative mode again, towards 1.4796 major support. We favor a reversal above 1.4796, that will target 1.5050-63 highs again. Intraday bias is negative with an initial resistance at 1.4902 and crucial level at 1.4927. Resistance Support intraday intraweek intraday intraweek 1.4903 1.5290 1.4796 1.4623 1.5015 1.6040 --- 1.4444 USD/JPY Current level - 89.05 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. Still in the consolidation pattern above 88.71 and the pair is capped at 89.60. Further depreciation is to be expected, towards 88.21 before a reversal, that will set the focus back on 91.58 resistance Resistance Support intraday intraweek intraday intraweek 89.53 92.40 88.73 88.01 90.75 97.79 88.21 83.53 GBP/USD Current level- 1.6654 The pair is in a downtrend after peaking at 1.7042. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258. The drowning from 1.6840 is deeper than expected, but while the pair holds above 1.6627 support there is a chance for reversal, that should set the beginning of the final leg upwards, to 1.6953. Only a break below 1.6515 will confirm, that important top is already in place, at 1.6877. Intraday bias is negative with a resistance at 1.6684 and crucial level at 1.6724. Resistance Support intraday intraweek intraday intraweek 1.6684 1.7042 1.6684 1.7042 1.6840 1.7442 1.6840 1.7442 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.