FX Trading – Forex Technical Analysis
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Forex Technical Analysis
EUR/USD
Current level – 1.3801
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 almost reached the target area with today’s high at 1.3818 and we still favor a reversal below that zone, that should initiate a downtrend for 1.3530, en route to 1.3440. Nevertheless, current intraday bias is still positive with a crucial level at 1.3715 and on the 1 h. chart only a break below 1.3655 will signal, that the prolonged consolidation has ended.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.3850 | 1.3850 | 1.3850 | 1.4580 |
| 1.3715 | 1.3530 | 1.3440 | 1.2880 |
USD/JPY
Current level – 90.60
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 are still on the long side here, expecting a break above 90.80, that will clear the road all the way up to 92.14. Crucial on the downside remains 89.97.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 90.79 | 91.50 | 93.40 | 95.60 |
| 90.01 | 89.50 | 87.36 | 83.45 |
GBP/USD
Current level – 1.5221
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 1.5072 intraday resistance and a fast uptrend followed, peaking at 1.5268. The bias remains positive for 1.5352 with an initial support at 1.5201 and a second one at 1.5155. Crucial on the 4 h. chart is 1.4975, as it guards the positive bias since 1.4779 low.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.5268 | 1.5352 | 1.5352 | 1.5833 |
| 1.5201 | 1.5155 | 1.4460 | 1.3506 |
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.
