Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jan 07 10 10:56 GMT |

EUR/USD Current level-1.4370 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. We believe, that the pair is in a minor consolidation pattern, before advancing towards 1.4501, en route to 1.4670. Crucial on the downside is 1.4257 and the intraday bias is negative while the pair stays below 1.4401 resistance. Resistance Support intraday intraweek intraday intraweek 1.4401 1.4499 1.4312 1.4170 1.4499 1.5146 1.4257 1.3740 USD/JPY Current level - 92.70 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 pair is heading towards 93.40 area again and we continue to expect a reversal below that resistance, that shall initiate a downtrend for 88.90. Important on the downside is 92.10. Resistance Support intraday intraweek intraday intraweek 92.90 93.40 92.10 86.01 93.40 95.60 91.25 79.60 GBP/USD Current level- 1.5955 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. The two consecutive tests of 1.6070 resistance failed and the negative bias has been sustained, aiming at 1.5896 and 1.5833. We continue to think, that the pair is still in the consolidation pattern above 1.5833 and one more upward leg is to be expected, towards 1.6410 resistance area. Crucial for the intraday downtrend is 1.5990. Resistance Support intraday intraweek intraday intraweek 1.5990 1.6410 1.5896 1.5706 1.6070 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.