Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Jan 11 10 10:39 GMT |

EUR/USD Current level-1.4512 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. As expected, the pair couldn't break below 1.4257 and reversed at 1.4264, advancing beyond 1.4499 resistance. Current bias is positive, well supported at 1.4460 and the pair is targeting 1.4630-70 resistance area. Crucial on the downside is 1.4260. Resistance Support intraday intraweek intraday intraweek 1.4534 1.4499 1.4460 1.4170 1.4670 1.5146 1.4260 1.3740 USD/JPY Current level - 92.43 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 reversal around 93.40 is already a fact and current intraday bias is negative, so we'll expect further depreciation towards 91.15-24 support area. Intraday resistance comes at 92.80. Resistance Support intraday intraweek intraday intraweek 93.40 93.40 92.10 86.01 93.70 95.60 91.25 79.60 GBP/USD Current level- 1.6141 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. As expected, the pair broke through 1.6070 resistance, stating that a bottom has been set at 1.5896 and the bias is positive for 1.6240, en route to our main target at 1.6410. Nevertheless, current upswing is a part of the consolidation pattern above 1.5833, so 1.6070 remains crucial support on the downside Resistance Support intraday intraweek intraday intraweek 1.6240 1.6410 1.6070 1.5706 1.6410 1.7042 1.5896 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.