Wed, Jan 14 2009, 10:29 GMT
by Stoyan Mihaylov
Current level-1.3256
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.
With yesterday's low at 1.3142 the pair has reversed and reached intraday high at 1.3331. There are some signs, that a bottom is already in place, but confirmation will come above 1.3530 and mostly above 1.3741. Intraday bias is neutral.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.3342 | 1.3444 | 1.3820 | 1.4365 |
| Support | 1.3222 | 1.3077 | 1.3077 | 1.2547 |
__________
Current level - 89.43
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.
The strong impulse from 94.64 confirms our view, that the rise 87.12-94.64 was corrective in nature, preceding next leg downwards to 86.31 and 83.01. Intraday bias is already positive for 91.01 with a risk limit below 88.95.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 89.96 | 91.01 | 91.59 | 94.64 |
| Support | 88.90 | 88.43 | 87.12 | 79.83 |
__________
Current level- 1.4513
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.
As expected, the pair broke through the crucial 1.4896, confirming our view, that a top at 1.5372 is already in place and the bias is negative for 1.4493. Our target at 1.4493 was successfully fulfilled and the pair is already in a corrective phase towards 1.4768 and 1.4893.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.4683 | 1.4986 | 1.5722 | 1.6301 |
| Support | 1.4473 | 1.4373 | 1.4103 | 1.3678 |
Published on Wed, Jan 14 2009, 10:40 GMT
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