Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Dec 11 09 07:37 GMT |

EUR/USD Current level-1.4728 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 prolonged consolidation above 1.4623 is still on the run and while 1.4801 limits the upside, the bias will remain negative for 1.4450 support. Intraday allow one more upswing for a test of 1.4780 resistance Resistance Support intraday intraweek intraday intraweek 1.4801 1.5146 1.4678 1.4450 1.4865 1.5290 1.4623 1.3740 USD/JPY Current level - 88.69 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 intraday bias is positive, well supported at 88.45 and a break above 88.75 will target 89.35-54 area. Crucial on the downside is 88.16. Resistance Support intraday intraweek intraday intraweek 89.54 90.77 88.45 84.79 90.77 95.60 87.53 79.60 GBP/USD Current level- 1.6309 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 Still in the consolidation pattern above 1.6130 and current intraday bias is positive, well supported at 1.6291 and is targeting 1.6460 resistance. A break above 1.6347 will confirm the positive outlook. On the bigger frames, a break below 1.6220 will set an end of the corrective phase and will aim at 1.59+ support area. Resistance Support intraday intraweek intraday intraweek 1.6347 1.6850 1.6290 1.6130 1.6460 1.7042 1.6130 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.