EUR/USD
Current level-1.2817
EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are rising, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721.
Yesterday's rise from 1.2663 has evolved in a three wave zig-zag and peaked at 1.2878. Intraday we favor one more slide to 1.2710, before next leg upwards, for a break above 1.3092, en route to 1.3328. Crucial on the 4 h. chart is 1.2553.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.2912 | 1.2996 | 1.31+ | 1.3328 |
| Support | 1.2783 | 1.2699 | 1.2554 | 1.2330 |
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USD/JPY
Current level - 96.95
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 90.78 and 100.29.
Our target at 97.48, set after the break above 94.64, was almost filled with recent high at 97.33, so we favor a reverse around current levels, aiming at 94.64. Crucial for the current uptrend from 92.62 is 96.38, so this level will be also confirmative for a corrective phase towards 94.64.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 97.33 | 97.48 | 100.01 | 103.55 |
| Support | 96.38 | 94.64 | 92.62 | 89.83 |
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GBP/USD
Current level- 1.4535
The pair is in a larger corrective phase towards 1.60+, after bottoming at 1.3506. Trading is situated below the 50- and 200-day SMA, currently projected at 1.5505 and 1.8341.
Yesterday's corrective phase bottomed precisely at 1.4376, so we believe the pair is set for a rise towards 1.4986. However, a break above 1.4578 is needed to confirm the bullish outlook.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.4578 | 1.4662 | 1.4986 | 1.5727 |
| Support | 1.4446 | 1.4372 | 1.4020 | 1.3506 |
