Major Currencies Analysis – Daily 05.28.2010
Posted by adminlexmark printer cartridges
haulage
conference badges
industrial coffee machines
EUR/USD
Current level – 1.2350
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.
A minor consolidation unfolds below yesterday’s high at 1.2393 and it precedes further appreciation towards 1.2440, en route to 1.2603. Crucial on the downside is 1.2202.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2440 | 1.2800 | 1.2202 | 1.20+ |
| 1.2603 | 1.3097 | 1.2140 | 1.1640 |
USD/JPY
Current level – 91.30
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.
As expected, the pair broke through 90.80 resistance area and the bias is positive for 91.90, en route to 93.50. Important support on the downside is 90.60 and crucial on the 4 h. chart is 89.80. The DJIA index is also bullish for 10’490 and 10’720.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 91.90 | 95.50 | 90.60 | 88.01 |
| 93.50 | 97.79 | 89.80 | 83.45 |
GBP/USD
Current level – 1.4560
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.
Yesterday’s high at 1.4610 is in fact a test of the 1.4640 resistance, so current slide is to be considered corrective in nature, preceding next advance towards 1.4750. Crucial on the downside is 1.4408.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.4640 | 1.4750 | 1.4510 | 1.4135 |
| 1.4750 | 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.
