Currency Crosses Pairs Analysis – Daily 06.15.2010
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EUR/GBP
Current level – 0.8269
Longer term bias switched to bearish now that the cross has breached key support in 0.8400 area.
Intraday: tapped 0.8350 resistance and retreated. The bears still in control, 0.8200 level should provide support.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 0.8350 | 0.8410 | 0.8350 | 0.8410 |
| 0.8410 | 0.8500 | 0.8410 | 0.8500 |
USD/CAD
Current level – 1.0332
Long term bias for the USD/CAD remains neutral, a solid base is now formed a around parity level.
Intraday: we had the sell off below the 61.8% Fib support in 1.0280 triggering stops just below 1.0250 reaching 1.0223. A recovery could be in place in the cross manages to move above 1.0400 figure until then maintain the bearish bias.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.0350 | 1.0690 | 1.0285 | 1.0000 |
| 1.0410 | 1.0750 | 1.0223 | 0.9900 |
GBP/JPY
Current level – 134.17
Long term bias remains bearish and breaking through the previous year lows keeps the bears in control of the pair.
Intraday: Triangle in place and false breakout that reached 135.88 high. Now testing short term bullish trendline. Trade the range 131 – 136 or stay sidelined until it takes a clear direction.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 135.10 | 144.90 | 133.90 | 132.00 |
| 135.88 | 146.00 | 133.00 | 131.00 |
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.
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