EUR/USD
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.
Still in the broad consolidation above 1.2331. Intraday bias has turned to positive, after dipping to our last week's target at 1.2650, and currently is aiming at 1.3021 and probably 1.3261 resistance before exhaustion. On the larger frames we still think, that current sharp swings are parts of significant consolidation after the 1.2331 bottom before new lows below that level.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.2896 | 1.2993 | 1.3507 | 1.3900 |
| Support | 1.2753 | 1.2584 | 1.2584 | 1.2331 |
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USD/JPY
Current level - 97.80
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.
As expected the pair broke through 99.71 resistance, reaching high at 100.53. Currently a consolidation is unfolding below that level and it should stay limited above 96.45 before next leg upwards, to 102.42. On the larger frames we still feel, that current decline from 99.71 is corrective in nature, preceding rise towards 102.42 .
| Minor | Intraday | Major | Intraweek | |
| Resistance | 99.70 | 100.96 | 102.41 | 103.55 |
| Support | 97.12 | 96.45 | 90.95 | 86.31 |
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GBP/USD
Current level- 1.5698
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.
A larger corrective phase is underway, correcting the whole slide from 1.8661 and we believe, that currently its third part is unfolding, aiming at 1.6408. Intraday bias is already positive after last week's expected dip to 1.5519.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.5970 | 1.6312 | 1.6801 | 1.70+ |
| Support | 1.5712 | 1.5545 | 1.5944 | 1.5271 |
