FOREX TRADING

Here are Forex Technical Analysis for daily trading :

EUR/USD

Current level-1.4236

EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008).
Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4134 and 1.3523.

Yesterday’s test of 1.4350 resistance provoked a sharp sell-off to 1.4209 support zone.
Current rebound is corrective in nature and we expect it to be limited below 1.4280 before next leg downwards, to 1.4123.Resistance     Support
intraday     intraweek     intraday     intraweek
1.4310        1.4444          1.4267        1.4006
1.4444        1.50+            1.4160         1.3746

USD/JPY

Current level – 93.68

A short-term bottom has been set at 87.12 and a large consolidation is unfolding since.
Trading is situated below the 50- and 200-day SMA, currently projected at 94.86 and 94.84.

Our target at 93.65 was filled, but there are still no signs of a reversal here, so only a break above 93.96 will target 95.50 resistance. Intraday bias is negative with nearest resistance at 93.80.
Resistance     Support
intraday     intraweek     intraday     intraweek
95.07            98.90           93.41           91.67
95.90          101.45           93.07           87.12

GBP/USD

Current level- 1.6216

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 overall negative bias has been sustained and the downtrend is intact, aiming at 1.5980. Nearest resistance comes at 1.6280-6296 and crucial is 1.6352.
Resistance     Support
intraday     intraweek     intraday     intraweek
1.6290        1.6663          1.6160        1.5980
1.6350        1.7440          1.6030        1.5350

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.