Forex Technical Analysis – Daily 08.19.2010
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EUR/USD
Current level – 1.2808
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.
We believe, that the consolidation above 1.2731 has been completed with the yesterday’s peak at 1.2923 and the pair is ready for a break below 1.2731, towards 1.2475 support area. Initial intraday resistance comes at 1.2843 and only a rebound above that level will signal, that the consolidation is still on the run.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.2843 | 1.3340 | 1.2780 | 1.2720 |
| 1.2923 | 1.3850 | 1.2731 | 1.2470 |
USD/JPY
Current level – 85.25
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.
The 86.50-84.70 range is intact and there are no clear signs, that it is close to its end. We still favor the downward direction with a respect to the higher frames, towards 83.20 and 81.60, but current intraday bias is still positive for 86.38 with a trigger below 85.10.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 86.38 | 89.20 | 85.10 | 84.78 |
| 86.50 | 93.50 | 84.70 | 79.60 |
GBP/USD
Current level – 1.5551
The pair is in an uptrend after bottoming at 1.4226. Trading is situated above the 50- and 200-day SMA, currently projected at 1.4986 and 1.5539.
Yesterday’s impulsive rise was probably the final part of the consolidation since 1.5533 low and currently the pair is ready to renew its downtrend towards 1.5330, en route to 1.5118. Initial resistance comes at 1.5588.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.5588 | 1.6460 | 1.5498 | 1.5520 |
| 1.5712 | 1.70+ | 1.5330 | 1.5118 |
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.
