Thu, May 7 2009, 08:40 GMT
by Stoyan Mihaylov
www.deltastock.com | View company's profile

Current level-1.3271
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 1.3064 and 1.3524.
A reversal set up took place around 1.3438 resistance and the intraday bias is negative for 1.3211 and 1.3106. Current depreciation is to be considered as a corrective wave, as crucial for this idea is 1.2965.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.3342 | 1.3438 | 1.3521 | 1.3740 |
| Support | 1.3211 | 1.3106 | 1.2965 | 1.2328 |
__________
Current level - 98.81
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.
The slide from 99.59 dipped to 97.96 and currently a corrective wave is underway, before next drowning to 97.12 and 96.73. Crucial on the upside is 99.25.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 99.25 | 99.75 | 103.55 | 107.93 |
| Support | 97.12 | 95.64 | 93.58 | 87.12 |
__________
Current level- 1.5118
The pair is in a broad corrective phase, after bottoming at 1.3506. Trading is situated between the 50- and 200-day SMA, currently projected at 1.4422 and 1.5896.
Our first target at 1.5172 was almost hit with recent high at 1.5163 and currently the pair is in a corrective phase, that is expected to be limited above 1.4978, before next leg upwards, to 1.5301.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.5172 | 1.5301 | 1.5370 | 1.5727 |
| Support | 1.4978 | 1.4746 | 1.4112 | 1.3103 |
Published on Thu, May 7 2009, 08:46 GMT
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