Currency Crosses Pairs Analysis – Daily 06.16.2010
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EUR/GBP
Current level – 0.8332
Longer term bias switched to bearish now that the cross has breached key support in 0.8400 area.
Intraday: bounces off 0.8250/60 level. Look for a consolidation phase between 0.8410 and 0.8200. Key intraday resistance in 0.8350 .
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 0.8350 | 0.8410 | 0.8250 | 0.8200 |
| 0.8410 | 0.8500 | 0.8200 | 0.8100 |
USD/CAD
Current level – 1.0275
Long term bias for the USD/CAD remains neutral, a solid base is now formed a around parity level.
Intraday: pulls back to trendline support in 1.0250, favour the downside unless we brake above 1.0350 – 1.0400 resistance.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.0350 | 1.0690 | 1.0250 | 1.0000 |
| 1.0410 | 1.0750 | 1.0223 | 0.9900 |
GBP/JPY
Current level – 135.59
Long term bias remains bearish and breaking through the previous year lows keeps the bears in control of the pair.
Intraday: Tapping resistance just below 136.00 figure. Pattern warns a breakout in this case to the upside. Stay tuned.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 135.88 | 144.90 | 135.00 | 132.00 |
| 136.25 | 146.00 | 134.00 | 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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