• Home ::
• Technical ::
• Analysis Reports ::
• Forex Economic Analysis

• Send
• Print
• Add To
• Rss

Forex Economic Analysis

36a931ec-f7c2-4285-894d-782dd0a7a2c1

7

0

Forex Technical Analysis on Majors

Thu, Dec 4 2008, 10:02 GMT
by Stoyan Mihaylov

www.deltastock.com

• EUR/USD

Current level-1.2608

EUR/USD is in a 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 1.3292 and 1.4866.
  
 
The expected sell-off from 1.2957 appeared to be deeper than anticipated and will probably aim at 1.2468 before reversal. We still hold on to our view, that current slide from 1.3081 is corrective in nature, but a break above 1.2957 is needed to confirm our outlook and crucial is 1.2421.

__________

• USD/JPY

Current level - 92.82

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.  

The previous low at 93.46 was taken out, so obviously the slide from 100.53 is not over yet and has potencial for 92.06 before reversal for 97.48. Intraday bias is still negative below 93.49, for 92.06.

__________

• GBP/USD

Current level- 1.4578

The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels around 1.37+. Trading is situated below the 50- and 200-day SMA, currently projected at 1.8391 and 1.9421.
 

Nice sell-off so far, and as our first target at 1.4557 has already been met, we'll expect the pair to continue its slide towards next support, currently projected at 1.4103. Intraday resistance comes at 1.4667 and crucial is 1.4767.

Published on  Thu, Dec 4 2008, 10:03 GMT