Major Currencies Analysis – Daily 06.16.2010
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EUR/USD
Current level – 1.2289
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.
The uptrend from 1.1880 is still intact, targeting 1.2450 and 1.2601. Initial support is seen at the dynamic projection 1.2249, followed by the crucial 1.2168.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2350 | 1.2601 | 1.2250 | 1.1876 |
| 1.2450 | 1.31+ | 1.2168 | 1.1640 |
USD/JPY
Current level – 91.64
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 intraday bias is positive with an initial support at 91.40 and crucial level at 91.08. A break above 92.02 will target directly 92.90 resistance area.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 92.02 | 93.50 | 91.40 | 90.60 |
| 92.90 | 97.79 | 91.08 | 87.50 |
GBP/USD
Current level – 1.4767
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.
Current pullback is corrective in nature, preceding next leg upwards, towards 1.5050 resistance area. Crucial on the downside is 1.4680.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.4840 | 1.5050 | 1.4730 | 1.4240 |
| 1.4942 | 1.5524 | 1.4680 | 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.
