Major Currencies Analysis – Daily 05.27.2010
Posted by adminrisk consulting services
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EUR/USD
Current level – 1.2282
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 1.4206.
Although we witnessed a new low at 1.2153, the overall bias is positive for 1.2440 and 1.2603. Initial intraday support comes at 1.2237 and first target is 1.2440.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2440 | 1.2800 | 1.2237 | 1.20+ |
| 1.2603 | 1.3097 | 1.2140 | 1.1640 |
USD/JPY
Current level – 90.27
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.
Yesterday’s test of the 90.83 resistance area failed, but we will expect the next test to be successful and to target 91.90, en route to 93.50.
| 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 – 1.4490
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.
We believe, that current rise is the expected upmove towards 1.4640 and later on to 1.4750 major resistance area. Important support on the downside is 1.4440 and only a violation of that level will neutralize the positive bias. Crucial is 1.4370.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.4520 | 1.4750 | 1.4440 | 1.4135 |
| 1.4640 | 1.5050 | 1.4370 | 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.
