Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Dec 08 09 11:05 GMT |

EUR/USD Current level-1.4817 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. Yesterday's break below 1.4801 signals a continuation of the negative bias towards 1.4623, en route to 1.4450 major support area. Although the bottom at 1.4757 has been confirmed to be the final of the slide from 1.5146, current rebound is corrective in nature and precedes next drowning towards 1.4623. Intraday bias is positive for a break above 1.4856 and will target 1.4910 resistance area. Crucial on the upside is 1.4970. Resistance Support intraday intraweek intraday intraweek 1.4910 1.5146 1.4796 1.4450 1.4970 1.5290 1.4757 1.3740 USD/JPY Current level - 89.00 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 pair is still in the downtrend from 90.77 and is currently heading for a precise test of the 88.50 support zone. A reversal around 88.19-50 is to be expected and it should provoke a rise towards 90.77, en route to 92.40 major resistance 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- 1.6369 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. Current rebound from yesterday's minor bottom at 1.6312 is corrective in nature and precedes next slide towards 1.6250, en route to 1.6130. Important resistance on the upside remains 1.6519 area. Resistance Support intraday intraweek intraday intraweek 1.6519 1.6850 1.6313 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.