Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Feb 02 10 10:30 GMT |

EUR/USD Current level-1.3922 EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169. The break above 1.3920 signals, that the pair has entered a larger corrective phase ans will target 1.40+ sentiment level, before drowning to 1.3740 support. Resistance Support intraday intraweek intraday intraweek 1.3920 1.3990 1.4260 1.5146 1.3851 1.3740 1.3740 1.30+ USD/JPY Current level - 90.56 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. We saw on more test in the 90.90 resistance area and the pair is still struggling below that zone. Only a break below 89.79 will initiate a downtrend for 88.36, en route to 87.35. The intraday bias is positive, well supported at 90.45. Resistance Support intraday intraweek intraday intraweek 90.80 91.90 93.40 95.60 89.60 88.35 87.12 83.45 GBP/USD Current level- 1.5920 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 pair has entered a larger consolidation pattern in the 1.5833-1.6070 zone. Intraday expect 1.5880 to support the pair for a rise towards 1.6050. Resistance Support intraday intraweek intraday intraweek 1.5980 1.6070 1.6280 1.7042 1.5880 1.5833 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.