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Forex Economic Analysis
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Forex Technical Analysis on Majors
Fri, Nov 14 2008, 10:09 GMT
by Stoyan Mihaylov
EUR/USD
Current level-1.2669
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 1.4049 and 1.5194.
Yesterday's uptrend appeared to be stronger than expected and by overtaking the crucial 1.2633, the bearish momentum was lost, so the pair is captured again in the swing ranging activity from the past few days. Minor uptrend is on the run from 1.2385, that has a potential for a break above the 1.2866 dynamic resistance, en route to 1.3114. Expect current consolidation from 1.2828 to find suport above 1.2633, for nextleg upwards to 1.2953.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.2743 | 1.2831 | 1.2951 | 1.3282 |
| Support | 1.2633 | 1.2512 | 1.2331 | 1.20+ |
__________
USD/JPY
Current level - 96.88
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.
After the pair broke through the 96.68 resistance, the bearish momentum was lost and current target is set at 100.53. Minor consolidation is unfolding below 98.21 and we expect it to be limited above 96.25 before breaking beyond 98+, towards 99.83.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 97.51 | 98.21 | 100.53 | 103.55 |
| Support | 95.63 | 94.53 | 93.35 | 90.95 |
__________
GBP/USD
Current level- 1.4817
The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels around 1.55+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.8391 and 1.9421.
As expected, after yesterday's minor consolidation above 1.4812, the pair renewed its downtrend, reaching low 1.4561. There is a possibility, that the mentioned bottom can transform in an important, mid-term one, but such idea will be confirmed above 1.5583. Intraday expect more ranging activity above 1.4701, before renewing the rise towards 1.5270.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.5073 | 1.5270 | 1.6390 | 1.70+ |
| Support | 1.4812 | 1.4653 | 1.45+ | 1.4136 |
Published on Fri, Nov 14 2008, 10:15 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
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
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