Forex Economic Analysis
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Forex Technical Analysis on Majors
Wed, Jan 7 2009, 10:55 GMT
by Stoyan Mihaylov
EUR/USD
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 |
__________
USD/JPY
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 |
__________
GBP/USD
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
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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