FOREX TRADING

EUR/USD

Current level-1.3851

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 pair reversed at 1.4029 and current bias is negative for 1.3740 main target. Crucial is 1.3895.

USD/JPY

Current level – 91.02

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.

With the break above 90.90 the bias here is positive for 91.90-92.04. Intraday range will meet support around 90.67

GBP/USD

Current level- 1.5879

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.

With the recent reversal at 1.6070, the consolidation above 1.5850 was confirmed to be complete, so the bias is negative for 1.5706. Crucial on the upside is 1.5919.

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