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Forex Economic Analysis
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Forex Technical Analysis on Majors
Tue, Sep 16 2008, 08:34 GMT
by Stoyan Mihaylov
EUR/USD
Current level-1.4259
EUR/USD is in а corrective phase, after finalizing the slide from 1.6039 (15 July 2008) at 1.3882. Technical indicators are reversed and rising, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.5256 and 1.5220.
After breaking above 1.4159, the pair confirmed a signifiicant bottom, situated at 1.3882 and that currently a broader consolidation is on the run, towards 1.50+. From an intraday point of view, a local top has been set at 1.4481 and corrective phase is unfolding since, with a chance for one more drowning to 1.4046 before advancing towards 1.4701.
Today's strategy: Stand aside.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.4353 | 1.4481 | 1.4551 | 1.5301 |
| Support | 1.4179 | 1.4046 | 1.3901 | 1.3665 |
__________
USD/JPY
Current level - 104.22
The pair is still in the broad consolidation since 95.75 short-term bottom, aiming at 111.03. Trading is situated above the 50- and 200-day SMA, currently projected at 108.04 and 106.48.
The initial target at 103.83 has been reached and the downtrend is still intact, heading towards 102.63. Intraday resistance comes at 104.51 and nearest support is seen at 103.12.
Today's strategy: Stand aside.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 104.51 | 106.36 | 110.66 | 113.01 |
| Support | 103.83 | 103.13 | 103.83 | 100.00 |
__________
GBP/USD
Current level- 1.7958
The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels below 1.80+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.9199 and 1.9645.
With the break of the crucial 1.7975, a short-term bottom has been confirmed at 1.7446. We feel, that the slide from 2.0153 has been finalized at 1.7446 and a broader corrective pattern is underway with current target set at 1.8491. On the lower frames, current consolidation seems yet incomplete, so allow one more dip to 1.7708, before advancing towards 1.8491.
Today's strategy : Stand aside.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.8131 | 1.8491 | 1.8491 | 1.9338 |
| Support | 1.7831 | 1.7708 | 1.7234 | 1.70+ |
Published on Tue, Sep 16 2008, 08:41 GMT
Archive
- Forex Technical Analysis on Majors
Published On Tue, Nov 24 2009, 10:14 GMT - Forex Technical Analysis on Majors
Published On Mon, Nov 23 2009, 10:22 GMT - Forex Technical Analysis on Majors
Published On Thu, Nov 19 2009, 09:27 GMT - Forex Technical Analysis on Majors
Published On Wed, Nov 18 2009, 09:59 GMT - Forex Technical Analysis on Majors
Published On Tue, Nov 17 2009, 09:34 GMT
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