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Forex Technical Analysis on Majors

Mon, Jun 29 2009, 09:53 GMT
by Stoyan Mihaylov

www.deltastock.com


  • EUR/USD

eurusd290609


Current level-1.3987

EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.3064 and 1.3524.
  
Obviously the pair is still in the prolonged consolidation above 1.3746, so allow one more upward swing in the 1.4178-4199 area, before deeper drowning bellow 1.3830.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance1.40801.41781.43381.4720
Support1.38821.38301.37201.3425

__________


  • USD/JPY

usdjpy290609

 Current level - 95.31

A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated below the 50- and 200-day SMA, currently projected at 98.13 and 97.75.

Friday's minor sell dipped few pips below our ideal target at 95.28 and now the pair is ready for a break beyond 95.61 resistance, towards 96.10.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance97.1098.9099.74101.42
Support95.5093.5893.5887.12

__________


  • GBP/USD

gbpusd260609

 Current level- 1.6489

The pair is in an uptrend, after bottoming at 1.3506. Trading is situated above the 50- and 200-day SMA, currently projected at 1.4778 and 1.5510.
   
The bias is still positive for 1.6623 and on the larger frames the pair is anchored in the 1.3190-6663 range. We favor a reversal below 1.6663 for one more downswing towards 1.6190.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance1.65601.66631.66631.70+
Support1.64211.61901.57781.5352


Archive

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http://www.deltastock.com | office@deltastock.com

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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