•  
  • New York 07:26
  • London 11:26
  • Barcelona 12:26
  • Tokyo 20:26
  • Sydney 22:26
  • SignUp | Login

Forex Economic Analysis

Forex Technical Analysis on Majors

Wed, Apr 15 2009, 08:53 GMT
by Stoyan Mihaylov

www.deltastock.com  |  View company's profile


Vote:

5

0

  • EUR/USD

eurusd140409

 Current level-1.3236

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.
  
As expected the negative intraday bias was sustained and after minor consolidation above 1.3226 support, the downtrend is renewed for 1.3092. Crucial is 1.3303.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance1.33031.34871.37401.3869
Support1.31651.30921.30921.2457

__________


  • USD/JPY

usdjpy150409

  Current level - 98.25

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 target at 98.87 was filled, but the minor downtrend is still intact and there are no signs of a reversal, so we favor continued negative bias towards 96.01 and 93.58. Crucial is 100.74. Intraday resistance comes at 99.36

Key Market Levels
MinorIntradayMajorIntraweek
Resistance99.36100.74103.55107.93
Support98.1296.0196.0193.58

__________



  • GBP/USD

gbpusd080409


Current level- 1.4866

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.
   
It is not clear enough if Monday's rise is actually the beginning of the expected uptrend towards 1.5301, so only a break above 1.4986 will confirm that such an upmove is already on the run.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance1.48961.49861.49861.5727
Support1.47771.45821.44301.3670


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.
Vote:

5

0

Related reports

Forex - EU Summit Not Expected to Help EURO by ACM - Advanced Currency Markets
Mon, Mar 22 2010, 10:38 GMT

Weekly Technical Commentary by Mizuho Corporate Bank
Mon, Mar 22 2010, 10:36 GMT

The EUR/USD is continuing the bearish trend from last week by Varengold Wertpapierhandelsbank AG
Mon, Mar 22 2010, 10:15 GMT

Metals probe support following surprise India rate hike by The Bullion Desk
Mon, Mar 22 2010, 09:45 GMT

CE currencies finally retreat by KBC Bank
Mon, Mar 22 2010, 09:30 GMT

eurusd

[ View All ]

Related content


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2010 "FXstreet.com. The Forex Market" All Rights Reserved.