Major Currencies Analysis – Daily 06.17.2010
Posted by adminEUR/USD
Current level – 1.2276
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 test of the 1.2350 high failed and the pair is still in the corrective pattern, preceding next leg upwards to 1.2601. Today’s low at 1.2240 should provide reliable support for a rise towards 1.2450.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2350 | 1.2601 | 1.2240 | 1.1876 |
| 1.2450 | 1.31+ | 1.2168 | 1.1640 |
USD/JPY
Current level – 91.25
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.
Still no trend dynamics here, but we are rather bullish for a break above 91.80, that will target 92.90 resistance.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 91.80 | 93.50 | 91.80 | 93.50 |
| 92.90 | 97.79 | 92.90 | 97.79 |
GBP/USD
Current level – 1.4676
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.
Although the sell-off from 1.4855 is a pure impulse, we will expect reversal around current levels to trigger a fast uptrend towards 1.4920 and 1.5050. “Trigger” on the upside is 1.4720.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.4840 | 1.5050 | 1.4730 | 1.4240 |
| 1.4942 | 1.5524 | 1.4680 | 1.35+ |
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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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