FXstreet.com

Forex Economic Analysis

0

0

Forex Technical Analysis on Majors

Mon, Sep 29 2008, 09:09 GMT
by Stoyan Mihaylov

www.deltastock.com


  • EUR/USD

eurusd290908


Current level-1.4346

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 significant bottom, situated at 1.3882 and that currently a broader consolidation is on the run, towards 1.50+.
The consolidation since 1.4865 appeared to be larger than expected and recently dipped to 1.4308. We still favor the outlook, that current slide is a corrective pattern, preceeding rise towards 1.5210. Intraday allow further drowning to 1.4269 before finalizing the impulse from 1.4681.
Today's strategy: Stand aside.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance1.44361.45121.46811.53+
Support1.43101.42691.41411.3882

__________


  • USD/JPY

usdjpy290908


Current level - 106.12

The pair is in the second part of the broad consolidation since 95.75 short-term bottom, aiming at 100.01. Trading is situated between the 50- and 200-day SMA, currently projected at 106.01 and 107.96.  


With Friday's low at 105.01 the pair has finalized the corrective pattern, that unfolds above 103.55 and currently is in the final stage, targeting 108.23. We still hold on to our view, that this corrective phase is preceeding a sharp decline towards 102.63 and 100.01, but first it has to reach peak around 108.01-23.
Today's strategy: Stand aside.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance106.96108.23109.10110.26
Support105.12104.61102.63100.00

__________



  • GBP/USD

gbpusd260908

Current level- 1.8103


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.
 

Last week's quick advance above 1.8640 failed to go anywhere near our ideal target at 1.8802 and peaked at 1.8669. We believe, that the whole rebound from 1.7446 has been completed at that level and the general downtrend is renewed with first target at 1.7912, en route to 1.7446. Intraday resistance comes at 1.8261.
Today's strategy : Stand aside.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance1.82611.84461.88021.9131
Support1.80611.79121.79121.7446


Archive

Deltastock Inc.  | 6 Stefan Stambolov str., 1301 Sofia, Bulgaria
http://www.deltastock.com | office@deltastock.com

Legal disclaimer and risk disclosure

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, Deltastock’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. Deltastock 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. Deltastock 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.

Related reports

Forex Analysis on Majors - Expecting Bullish Break in Euro by Forex Ltd
Tue, Nov 24 2009, 07:59 GMT

Daily FX Market Commentary - Dollar and yen decline, gold reaches record levels by Danske Bank A/S
Tue, Nov 24 2009, 07:52 GMT

Currency on the Day - EURUSD Technical Analysis by Investija.com
Tue, Nov 24 2009, 07:45 GMT

Forex Trading Strategies - Dollar bears take a breather as Asia focuses on bank capital levels by Saxo Bank
Tue, Nov 24 2009, 07:27 GMT

Forex Chartist Technical Analysis - GBP/USD & EUR/USD by Charmer Charts.com
Tue, Nov 24 2009, 07:15 GMT

eurusd, gbpusd, usdjpy

View All

Related content


Interested in forex trading? forex brokerage firms!


FOREX.com
Contact the broker/FDM
Open a demo account
ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
Saxo Bank A/S
Contact the broker/FDM
Open a demo account
Deutsche Bank
Contact the broker/FDM
Open a demo account
GFT
Contact the broker/FDM
Open a demo account

GET CASH BACK FOR YOUR TRADES!   Learn more about the Pip Rebate Program

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2009 "FXstreet.com. The Forex Market" All Rights Reserved.