Currency Crosses Pairs Analysis – Daily 07.06.2010
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EUR/GBP
Current level – 0.8276
Longer term bias switched to bearish now that the cross has breached key support in 0.8400 area.
Intraday: continuation in the corrective move until 0.8300 figure. Trendline support in 0.8260/50, if it stays above look for a push to 0.8330 Fib level.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 0,8300 | 0,8410 | 0,8250 | 0,8200 |
| 0,8330 | 0,8300 | 0,8200 | 0,8100 |
USD/CAD
Current level – 1.0603
Long term bias for the USD/CAD remains neutral, a solid base is now formed a around parity level.
Intraday: third rejection in 1.0670 resistance area but still keeping up with the bullish structure although a possible top could be in place. In that case a break below 1.0550 support would confirm it.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.0670 | 1.0690 | 1.0550 | 1,0000 |
| 1.0700 | 1.0700 | 1.0500 | 0.9900 |
GBP/JPY
Current level – 133.33
Long term bias remains bearish and breaking through the previous year lows keeps the bears in control of the pair.
Intraday: higher low developed during the asian session in 131.83. Expect a retest of 133.70 – 134.00 resistance. Above find trendline resistance in 134.30/40.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 133.70 | 144.90 | 133.00 | 132.00 |
| 134.30 | 146.00 | 132.50 | 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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[...] Currency Crosses Pairs Analysis – Daily 07.06.2010 | FOREX TRADING [...]
[...] Currency Crosses Pairs Analysis – Daily 07.06.2010 | FOREX TRADING [...]