Wed, Jan 7 2009, 10:55 GMT
by Stoyan Mihaylov
Current level-1.3583
EUR/USD is in an uptrend, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are rising, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721.
After reaching precisely our target at 1.3312, the pair reversed and an uptrend is on the run, aiming at 1.3821. Intraday support can be found above 1.3542 and crucial is 1.3462.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.3621 | 1.3821 | 1.4361 | 1.4865 |
| Support | 1.3542 | 1.3462 | 1.3280 | 1.2547 |
__________
Current level - 93.31
The pair has finalized its consolidation above 90.95 at 97.48 and the general downtrend has been renewed, targeting 79.86. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76.
We still hold on to our view, that current uptrend from 87.12 is corrective in nature, preceding next slide to 86.31 and 83.01. Intraday bias is negative towards 91.72 with crucial level at 93.87.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 93.86 | 94.64 | 97.48 | 100.53 |
| Support | 92.84 | 90.97 | 87.12 | 79.83 |
__________
Current level- 1.4871
The pair is in a downtrend from 2.0153, targeting 1.3768. Trading is situated below the 50- and 200-day SMA, currently projected at 1.5505 and 1.8341.
With the break below 1.4477, the general downtrend has been renewed, targeting 1.3768. Current consolidation above 1.4382 is obviously larger than expected and will aim at 1.5196 before completion. Intraday bias is positive while holding above 1.4820, for 1.5096.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.4957 | 1.5096 | 1.5722 | 1.6301 |
| Support | 1.4820 | 1.4740 | 1.4103 | 1.3678 |
Published on Wed, Jan 7 2009, 11:14 GMT
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