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Forex Economic Analysis

Forex Technical Analysis on Majors

Fri, Apr 3 2009, 07:51 GMT
by Stoyan Mihaylov

www.deltastock.com  |  View company's profile


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  • EUR/USD

eurusd030409

 Current level-1.3412

EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.2951 and 1.3834.
  
Yesterday's break above 1.3415 resistance has neutralized the bearish momentum and currently the overall bias is positive for 1.3593, supported at 1.3342. Intraday allow more ranging above 1.3342 support zone before next leg upwards, for 1.3593.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance1.35151.35931.37401.3869
Support1.33421.30901.29421.2457

__________


  • USD/JPY

usdjpy310309

     Current level - 99.61

A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 94.12 and 99.36.

Our first target at 100.16 was reached yesterday and the pair is in a corrective mode above 99.+, before advancing towards 100.98.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance99.69100.13102.16103.55
Support96.8396.3594.6489.83

__________



  • GBP/USD

gbpusd030409


    Current level- 1.4691

The pair is in a corrective phase, after bottoming at 1.3506. Trading is situated between the 50- and 200-day SMA, currently projected at 1.4259 and 1.6470.
   
Yesterday's uptrend peaked at 1.4778 resistance and currently the pair is in a corrective phase towards 1.4601 and 1.4518. A break above 1.4734 would jeopardize 1.4986.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance1.47341.47721.49861.5727
Support1.46011.45181.39601.30+


Archive


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.
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