Forex Economic Analysis
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Forex Technical Analysis on Majors
Wed, Jan 14 2009, 10:29 GMT
by Stoyan Mihaylov
EUR/USD
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 |
__________
USD/JPY
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 |
__________
GBP/USD
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
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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