Major Currencies Analysis – Daily 06.15.2010
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EUR/USD
Current level – 1.2175
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.
Yesterday’s rise peaked at 1.2300 and current slide is corrective in nature, preceding next leg upwards, towards 1.2601. Reliable support is projected at 1.2150 and ‘trigger’ on the upside is 1.2230.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2199 | 1.2330 | 1.2150 | 1.1876 |
| 1.2230 | 1.2600 | 1.2040 | 1.1640 |
USD/JPY
Current level – 91.29
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.
The test of 92.04 resistance failed and the pair is heading towards the lower boundary of the range at 90.80. The intraday bias is negative with an initial resistance at 91.41.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 91.41 | 93.50 | 90.80 | 90.60 |
| 92.04 | 97.79 | 90.60 | 87.50 |
GBP/USD
Current level – 1.4726
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.
The overall bias remains bullish for 1.5050 and on the lower frames the pair is in a minor consolidation pattern below 1.4808 high. Later today expect a break above 1.4770 resistance area to fuel a rise towards 1.4942, en route to 1.5050
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.4770 | 1.5050 | 1.4670 | 1.4240 |
| 1.4942 | 1.5524 | 1.4617 | 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.
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