Forex Economic Analysis
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Forex Technical Analysis on Majors
Fri, Oct 10 2008, 08:20 GMT
by Stoyan Mihaylov
EUR/USD
Current level-1.3583
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 1.4595 and 1.5183.
The pair broke through the 1.3882 weekly low, thus signalizing, that the overall downtrend has been renewed. Monday's slide has reached 1.3443 and we believe, that the current rebound is corrective in nature, preceeding another sell-off towards 1.3361. Intraday a minor uptrend is on the run, targeting 1.3904, with initial support at 1.3534.
Today's strategy: Stand aside.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.3640 | 1.3906 | 1.4174 | 1.4865 |
| Support | 1.3512 | 1.3443 | 1.3361 | 1.2998 |
__________
USD/JPY
Current level - 98.72
The pair is in the second part of the broad consolidation since 95.75 short-term bottom, aiming at 97.63. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76.
Yesterday's peak at 101.46 has finalized the consolidation above 98.58 and the downtrend has been renewed, reaching low at 97.93. Expect minor corrective phase, limited below 100.31, before next leg downwards, to 96.93.
Today's strategy: Stand aside.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 100.31 | 101.46 | 103.55 | 109.10 |
| Support | 98.12 | 97.26 | 95.75 | 90-sentiment |
__________
GBP/USD
Current level- 1.6914
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 1.8391 and 1.9421.
The pair has finalized the consolidation above 1.7167 at 1.7397 and the downmove accelerated, breaking below 1.70+ monthly support. Expect some corrective activity below 1.7000, before next leg downwards to 1.6583.
Today's strategy : Stand aside.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.70+ | 1.7167 | 1.7397 | 1.8802 |
| Support | 1.6831 | 1.6799 | 1.6564 | 1.6131 |
Published on Fri, Oct 10 2008, 08:26 GMT
Archive
- Forex Technical Analysis on Majors
Published On Fri, Jul 3 2009, 08:37 GMT - Forex Technical Analysis on Majors
Published On Thu, Jul 2 2009, 10:49 GMT - Forex Technical Analysis on Majors
Published On Mon, Jun 29 2009, 09:53 GMT - Forex Technical Analysis on Majors
Published On Thu, Jun 25 2009, 09:26 GMT - Forex Technical Analysis on Majors
Published On Wed, Jun 24 2009, 09:42 GMT
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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
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