Forex Economic Analysis
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Forex Technical Analysis on Majors
Wed, Nov 19 2008, 08:38 GMT
by Stoyan Mihaylov
EUR/USD
Current level-1.2634
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.
Friday's attempt of breaking beyond the dynamic resistance at 1.2866 failed and the pair remains in ranging mode above the short-term low at 1.2331. More closely speaking, there is a downtrend from 1.2797 and we will expect a break below 1.2509 to confirm our bearish outlook.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.2743 | 1.2831 | 1.2951 | 1.3282 |
| Support | 1.2512 | 1.2412 | 1.2331 | 1.20+ |
__________
USD/JPY
Current level - 96.64
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- 1.4976
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.
The corrective phase above 1.4551 appeared to be larger than expected and will probably aim at 1.5167 before completion and renewing of the downtrend towards 1.4301.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.5073 | 1.5270 | 1.6390 | 1.70+ |
| Support | 1.4934 | 1.4653 | 1.45+ | 1.4136 |
Published on Wed, Nov 19 2008, 08:44 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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