Currency Crosses Pairs Analysis – Daily 08.31.2010
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EUR/GBP
Current level – 0.8206
Longer term bias switched to bearish now that the cross has breached key support in 0.8400 area.
Intraday: No change from last week, keeps on sliding for a retest of Junes low in 0.8070 zone. Trade the 100 pip range developed between 0.8140 and 0.8235.
Profit-taking affects gold curbing silver and platinum
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 0,8200 | 0,8300 | 0,8140 | 0,8100 |
| 0,8235 | 0,8410 | 0,8070 | 0,8000 |
USD/CAD
Current level – 1.0618
Long term bias for the USD/CAD remains neutral, a solid base is now formed a around parity level.
Intraday: Bouncing back from just above the 38.2 retracement in 1.0470 to rally for a retest of 1.0650 resistance. A brake above would invalidate the top.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.0600 | 1.0690 | 1.0550 | 1.0000 |
| 1.0650 | 1.0750 | 1.0470 | 0.9900 |
GBP/JPY
Current level – 130.02
Long term bias remains bearish and breaking through the previous year lows keeps the bears in control of the pair.
Intraday: Absence of support in the pullback expected to hold in 131.50 triggered a sell off targeting 128.80 low. Continues to slide after peaking just above the 100MA.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 130.00 | 134.40 | 129.10 | 131.00 |
| 131.00 | 137.80 | 128.80 | 130.00 |
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.
