Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Nov 25 09 10:04 GMT |

EUR/USD Current level-1.5012 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 minor consolidation pattern below 1.4999 ended at 1.4920 and the bias is positive for 1.5063, en route to 1.5130. Intraday support comes at 1.4999, followed by the crucial 1.4954. Resistance Support intraday intraweek intraday intraweek 1.5063 1.5290 1.4954 1.4623 1.5130 1.6040 1.4801 1.4444 USD/JPY Current level - 88.25 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 88.21 has been met and while the pair stays above 88.01 we will continue to expect a reversal for 91+. Intraday bias is negative with a resistance at 88.75 and crucial level at 89.19. An eventual break below 88.01 will set the focus directly on 87.12 major support. Resistance Support intraday intraweek intraday intraweek 88.75 92.40 88.01 87.12 89.19 97.79 --- 83.53 GBP/USD Current level- 1.6703 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. As expected, the pair reversed its direction at 1.6495 and filled our target at 1.6712. We will keep our view, that current uptrend is the last leg of the consolidation pattern above 1.6460 and precedes a deeper drowning towards 1.6130. Intraday bias is positive, well supported at 1.6649 and with a crucial level at 1.6601. Resistance Support intraday intraweek intraday intraweek 1.6733 1.7042 1.6649 1.6130 1.6840 1.7442 1.6495 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.