Mon, Dec 1 2008, 09:40 GMT
by Stoyan Mihaylov
Current level-1.2691
EUR/USD is in а downtrend, after finalizing the rebound from 1.3882 (Sept. 11 2008) at 1.3882. Technical indicators are falling, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4866.
The expected sell-off from 1.2957 appeared to be deeper than anticipated and will probably aim at 1.2561 before reversal. We still hold on to our view, that current slide from 1.3081 is corrective in nature, but a break above 1.2957 is needed to confirm our outlook and crucial is 1.2421.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.2996 | 1.3081 | 1.3281 | 1.3671 |
| Support | 1.2612 | 1.2561 | 1.2421 | 1.2331 |
__________
Current level - 95.12
The pair is in the second part of the broad consolidation since 90.95 short-term bottom, aiming at 103.52. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76.
The flat corrective pattern above 94.66 requires one more slide downwards to 94.01 before reversing for 97.48. Crucial is 93.46.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 95.75 | 98.21 | 100.53 | 103.55 |
| Support | 94.56 | 93.35 | 93.35 | 90.95 |
__________
Current level- 1.5271
The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels around 1.45+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.8391 and 1.9421.
Still in the broad consolidation below 1.5531 and after last week's test of the upper boundary at 1.5453, the pair is ready for a dip towards 1.5131 before next leg upwards, for 1.5889. Important support comes at 1.4963.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.5491 | 1.5531 | 1.5889 | 1.6301 |
| Support | 1.5131 | 1.4963 | 1.4710 | 1.4551 |
Published on Mon, Dec 1 2008, 09:40 GMT
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