Major Currencies Analysis – Daily 06.25.2010
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EUR/USD
Current level – 1.2341
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 pair couldn’t break below 1.2260 support and advanced above 1.2350 resistance, peaking at 1.2389. Current bias is positive for 1.2409, but we feel, that the consolidation below 1.2469 is not over yet, so later today expect one more leg downwards, to 1.2150 support area.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2389 | 1.2601 | 1.2297 | 1.1876 |
| 1.2469 | 1.31+ | 1.2150 | 1.1640 |
USD/JPY
Current level – 89.71
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.
After filling our target at 89.30 the pair reversed its direction, entering a larger consolidation phase for 90.20 resistance. The overall bias is still bearish for 88.+.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 90.20 | 93.50 | 89.20 | 88.+ |
| 91.49 | 97.79 | 88.+ | 84.78 |
GBP/USD
Current level – 1.4930
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.
A minor reversal on the intraday charts is already a fact, but it is not convincing enough to state clearly, that a major top is in place. The price has to break below 1.4850 and 1.4686 to confirm a major reversal.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.5000 | 1.5050 | 1.4930 | 1.4643 |
| 1.5050 | 1.5524 | 1.4850 | 1.4240 |
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.
