Major Currencies Analysis – Daily 05.26.2010
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EUR/USD
Current level – 1.2318
EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3458 and 1.420
Yesterday’s low at 1.2176 was the final of the downtrend since 1.2600 and current bias is positive for 1.2440, en route to 1.2603. Intraday support comes at 1.2260, followed by the crucial 1.2174.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2440 | 1.2800 | 1.2260 | 1.20+ |
| 1.2603 | 1.3097 | 1.2174 | 1.1640 |
USD/JPY
Current level – 90.17
The pair is in a broad consolidation above 84.78 short-term low. Trading is situated below the 50- and 200-day SMA, currently projected at 92.60 and 91.06.
We believe, that the pair has built a reliable base at 89.20 and is ready to break beyond 90.83 resistance area. First target on the upside is 91.90, followed by 93.50. Crucial on the downside is 89.20.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 90.83 | 95.50 | 89.21 | 88.01 |
| 91.90 | 97.79 | 88.95 | 83.45 |
GBP/USD
Current level – 1.4368
The pair is in a downtrend after peaking at 1.7042. Trading is situated below the 50- and 200-day SMA, currently projected at 1.5057 and 1.5851.
As expected, yesterday’s test at 1.4240 support failed and the pair is in a bullish mode, aiming at 1.4500 res. area. A break above 1.45+ will set the focus on our second target at 1.4750.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.4449 | 1.4750 | 1.4240 | 1.4135 |
| 1.4500 | 1.5050 | 1.4135 | 1.35+ |
About the Author
DeltaStock Inc. – Online Forex & Securities Broker
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.
