Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Dec 07 09 08:46 GMT |

EUR/USD Current level-1.4873 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 break below 1.5045 resulted in a fast sell-off to 1.4821 and there are still no signs, that the negative bias has changed, so one more test of the 1.4801 support is to be expected today. On the bigger picture the pair is still in the 1.48-1.5150 range and only a break below 1.48+ will set the focus on 1.4620 and at the main support at 1.4450. We favor the idea, that current range will continue with the next upward swing for 1.5146 Resistance Support intraday intraweek intraday intraweek 1.4910 1.5146 1.4801 1.48+ 1.4970 1.5290 --- 1.4444 USD/JPY Current level - 89.85 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. The break above 88.75 has transformed the bearish bias into bullish and currently the pair consolidates below the recent peak at 90.77. A new range has been formed in the 88.50-92.40 area and it is likely to expect a test of the lower boundary at 88.50. Resistance Support intraday intraweek intraday intraweek 90.77 92.40 88.50 84.79 91.58 95.60 87.50 79.60 GBP/USD Current level- 1.6448 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 reversed at 1.6670 and broke through the dynamic support at 1.6519. The overall bias here is negative for 1.6380, en route to 1.6250 with an intraday resistance at 1.6519. Resistance Support intraday intraweek intraday intraweek 1.6519 1.6850 1.6380 1.6130 1.6723 1.7042 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.