Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Dec 01 09 09:53 GMT |

EUR/USD Current level-1.5048 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. Intraday bias is positive with a support at 1.5010, but we expect a reversal below 1.51+ to provoke a slide for a break below 1.4970, en route to 1.4902 Resistance Support intraday intraweek intraday intraweek 1.5080 1.5290 1.4970 1.4623 1.5146 1.6040 1.4801 1.4444 USD/JPY Current level - 86.96 The overall downtrend has been renewed with the recent break below 87.12. Trading is situated below the 50- and 200-day SMA, currently projected at 94.86 and 94.84. Yesterday's break above 86.50 resistance resulted in a peak at 87.53 and this high is probably the final of the consolidation pattern above 84.79. A break below 86.01 will confirm, that the downtrend is renewed for 83.45. Resistance Support intraday intraweek intraday intraweek 87.53 88.75 87.53 88.75 88.01 93.40 88.01 93.40 GBP/USD Current level- 1.6473 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 pair couldn't break below 1.6380 and intraday bias is positive, well supported at 1.6460. On the 4h. chart we still favor the negative outlook for 1.6130 with a crucial level above 1.6730, but even a break above 1.66+ will transform the bias in neutral. Resistance Support intraday intraweek intraday intraweek 1.6596 1.7042 1.6380 1.6130 1.6730 1.7442 1.6250 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.