Major Currencies Analysis – Daily 06.18.2010
Posted by adminEUR/USD
Current level – 1.2399
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 overall bias remains positive for 1.2601 target area with a crucial level at 1.2242. Intraday support comes at 1.2340 and further appreciation is to be expected, towards the mentioned target zone.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2413 | 1.2601 | 1.2340 | 1.1876 |
| 1.2450 | 1.31+ | 1.2242 | 1.1640 |
USD/JPY
Current level – 90.73
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 pair broke through 91.10 support, reaching low at 90.55. The intraday bias is neutral in the 90.60-91.10 range and there is still no evidence of trend dynamics on the mid-frames.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 91.10 | 93.50 | 90.60 | 90.60 |
| 92.04 | 97.79 | — | 87.50 |
GBP/USD
Current level – 1.4861
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.
As expected, the pair reversed its direction at 1.4643 and the uptrend on the 4h. chart is renewed, targeting 1.4942 and 1.5050 major resistance. Initial intraday support comes at 1.4850 and crucial is 1.4805.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.4942 | 1.5050 | 1.4850 | 1.4643 |
| 1.5050 | 1.5524 | 1.4805 | 1.4240 |
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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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