Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Nov 26 09 10:17 GMT |

EUR/USD Current level-1.5080 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. Our target at 1.5130 has been filled and the pair entered a larger consolidation pattern above 1.50+. Intraday initial support comes at 1.5057, followed by 1.5016. Crucial on the downside remains 1.4920 and next target is 1.5280. RSI on the 2 h. chart shows a convergence, so new highs beyond 1.5146 seem inevitable at the moment. Resistance Support intraday intraweek intraday intraweek 1.5146 1.5290 1.5057 1.4623 1.5280 1.6040 1.4920 1.4444 USD/JPY Current level - 86.90 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 broke through 88.01 and 87.12 mid-term low, so the downtrend has been renewed on all the charts, targeting 83.45. A temporary low is in place at 86.30 and intraday bias is slightly positive for 87.20 and probably 88.01. Important on the upside is 88.75 and this level should remain intact in order to preserve the bearish bias. Resistance Support intraday intraweek intraday intraweek 87.20 92.40 86.30 83.53 88.75 97.79 85.40 79.60 GBP/USD Current level- 1.6540 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 1.6746 and with the break below 1.6649 support it is confirmed, that a top is in place and the negative bias is renewed towards 1.6250 and 1.6130. Current downtrend is expected to enter a minor consolidation above 1.6495 support, before breaking below, towards 1.6250 support. Important resistance on the upside is 1.6649. Resistance Support intraday intraweek intraday intraweek 1.6649 1.7042 1.6495 1.6130 1.6840 1.7442 1.6460 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.