Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jan 06 10 10:01 GMT |

EUR/USD Current level-1.4343 EUR/USD is in a downtrend, after peaking at1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169. While 1.4257 is intact, the overall bias will remain neutral in the 1.4216-1.4500 range. Nevertheless we feel, that there is a chance for one last upswing to 1.4670 resistance, as the pair will try to gather momentum for the next leg downwards. The intraday bias is positive and a break above 1.4401 will set the focus on 1.4501, en route to 1.4670 Resistance Support intraday intraweek intraday intraweek 1.4401 1.4499 1.4335 1.4170 1.4499 1.5146 1.4216 1.3740 USD/JPY Current level - 92.04 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. Yesterday's slide fell short of our target at 90.60 and the pair reversed at 91.25, initiating an uptrend for 92.57-70. The intraday bias is positive, well supported at 91.96, but we will expect a reversal below 92.70 to set the focus back on 88.90. Resistance Support intraday intraweek intraday intraweek 92.57 93.40 91.96 86.01 92.70 95.60 91.25 79.60 GBP/USD Current level- 1.6040 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. Although the pair dipped to 1.5944 we continue to expect one more upswing to 1.6410, so stay tuned for a clear break above 1.6070 resistance area, that shall clear the road towards 1.6410. Intraday bias is neutral and while the pair holds below 1.6070, the outlook on the 1 h. chart will remain bearish. Resistance Support intraday intraweek intraday intraweek 1.6070 1.6410 1.5944 1.5706 1.6240 1.7042 1.5833 1.5352 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.