Forex Technical Analysis

Daily Forex Technicals | Written by DeltaStock Inc. | Feb 10 10 09:56 GMT |

EUR/USD Current level-1.3766 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. Yesterday's break above 1.3740 intraday resistance cleared the road for a precise test of 1.3850. Current bias is neutral, but we expect a break below 1.3690 to initiate a downtrend for 1.3585, en route to 1.3413. Resistance Support intraday intraweek intraday intraweek 1.3850 1.4260 1.3692 1.3413 1.3850 1.5146 1.3585 1.30+ USD/JPY Current level - 89.63 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. Still in the consolidation pattern above 88.54 and while 90.06 limits the upside, the overall bias will continue to be negative for 87.36. Important on the downside is 89.14. Resistance Support intraday intraweek intraday intraweek 90.08 93.40 89.14 87.36 91.30 95.60 88.54 79.60 GBP/USD Current level- 1.5667 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 bias is positive with an initial support around 1.5647. We favor a break below that zone, that will target 1.5532, en route to 1.5352. On the upside major resistance is 1.5835 Resistance Support intraday intraweek intraday intraweek 1.5747 1.6459 1.5647 1.5352 1.5835 1.7042 1.5535 1.50+ 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.