Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Dec 22 09 10:17 GMT |

EUR/USD Current level-1.4327 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 slide couldn't break below 1.4260 low and current bias on the 1h. frame is neutral with a slightly bullish intraday outlook for 1.4370. On the larger frames, the downtrend is intact and the target remains in the 1.4150-70 area. Resistance Support intraday intraweek intraday intraweek 1.4370 1.4410 1.5146 1.5290 1.4261 1.4170 1.4170 1.3740 USD/JPY Current level - 91.16 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 uptrend here is intact and the pair is in a minor consolidation pattern below 91.49, before breaking beyond, towards 92.40 major resistance area. Important intraday support can be found around 90.90 and crucial is 90.37. Resistance Support intraday intraweek intraday intraweek 91.49 92.40 92.40 93.40 90.90 90.37 83.45 79.60 GBP/USD Current level- 1.6071 The pair is in a downtrend after peaking at 1.7042. Trading is situated between the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258. Current rebound from 1.6027 low is nothing more than a corrective pattern, before next leg downwards, to 1.59+. Crucial on the upside is 1.6160. Resistance Support intraday intraweek intraday intraweek 1.6163 1.6250 1.6840 1.7042 1.6027 1.59+ 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.