Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Nov 20 09 10:18 GMT |

EUR/USD Current level-1.4901 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. The overall bias here is neutral with a slightly bearish pressure while the 1.4796 support is still on test. Intraday resistance comes at 1.4972 and is likely to be tested before the beginning of the U.S. trading session, but only a clear break above 1.5015 will set the focus back on new highs, beyond 1.5063 Resistance Support intraday intraweek intraday intraweek 1.4972 1.5290 1.4842 1.4623 1.5015 1.6040 1.4796 1.4444 USD/JPY Current level - 88.89 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 is in a minor consolidation pattern in the 89.16-88.61 area, before one more dip to 88.21 reversal point. 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- 1.6569 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 break below 1.6627 support has set the focus on 1.6515 major support and we are rather neutral here, as only a break above 1.6675 will bring the positive outlook back on the charts. Intraday bias is negative with a resistance at 1.6619 and crucial level at 1.6674. Resistance Support intraday intraweek intraday intraweek 1.6619 1.7042 1.6515 1.6515 1.6840 1.7442 --- 1.5706 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.