Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Dec 17 09 10:21 GMT |

EUR/USD Current level-1.4411 EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169. Yesterday's consolidation was limited below 1.4607 resistance and a sharp sell-off followed, bottoming at 1.4369. The overall bias remains negative for 1.4170 main target with an initial resistance at 1.4499, followed by the crucial 1.4590 Resistance Support intraday intraweek intraday intraweek 1.4499 1.5146 1.4369 1.4170 1.4590 1.5290 1.4273 1.3740 USD/JPY Current level - 89.74 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 89.50 and 93.54. The slide below 89.93 was confirmed to be only a corrective pattern and a new high followed, at 90.26. Intraday important support is 89.35 as that level is a combination between a static and a dynamic support and an eventual break below that area will target directly 87.35. Current intraday bias is negative, but the uptrend from 87.35 is still intact. Resistance Support intraday intraweek intraday intraweek 90.27 90.77 90.77 93.40 89.35 87.35 83.45 79.60 GBP/USD Current level- 1.6212 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. Yesterday's break above 1.6320 resistance resulted in a fast upswing to 1.6410, which we believe was the final wave in the prolonged consolidation above 1.6130. A break below 1.6180 will confirm, that the downtrend is renewed towards 1.59+ main target. Resistance Support intraday intraweek intraday intraweek 1.6270 1.6410 1.6840 1.7042 1.6180 1.6130 1.59+ 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.