EUR/USD
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 1.4134 and 1.3523.
As expected, Friday's minor consolidation was limited below 1.4586 and the pair dipped down to 1.4478 in attempt to test 1.4444 major support. A minor bottom is confirmed to be set at 1.4478 and with a break above 1.4675, the recent low will be the final of the 1.4842-4478 slide. Intraday bias is positive for 1.4724, well supported above 1.4570
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.4675 | 1.4720 | 1.4842 | 1.50+ |
| Support | 1.4564 | 1.4444 | 1.4180 | 1.3746 |
__________
USD/JPY
Current level - 89.86
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 94.86 and 94.84.
Friday's dip at 88.60 marked the end of the second phase of the consolidation above 88.42, so now the focus is set back on 90.40. We expect the mentioned resistance to stay intact for a downward test in the 87.12 area.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 90.40 | 93.40 | 99.03 | 101.42 |
| Support | 89.12 | 88.40 | 87.12 | 83.25 |
__________
GBP/USD
Current level- 1.5872
The pair is in a downtrend after peaking at 1.7042. Trading is situated between the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.
Obviously the consolidation pattern above 1.5766 is not over yet, but while the pair trades below 1.6130 resistance area, the overall outlook will remain absolutely bearish for 1.5352. Intraday bias is negative, but 1.6024 high is not yet confirmed to be the end of the 1.5766-1.6130 ranging pattern. Only a break below 1.5801 recent low will generate a signal for a trend renewal.
| Minor | Intraday | Major | Intraweek | |
| Resistance | 1.6024 | 1.6130 | 1.6460 | 1.7042 |
| Support | 1.5801 | 1.5766 | 1.5352 | 1.50+ |
