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Forex Economic Analysis

Forex Technical Analysis on Majors

Wed, Mar 10 2010, 11:45 GMT
by Stoyan Mihaylov

www.deltastock.com  |  View company's profile

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  • EUR/USD


eurusd090310

Current level-1.3585

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.
  
A break above 1.3620 will signal, that the expected rise is underway, towards 1.3736, en route to 1.3850 main target.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance1.36201.37361.38501.4580
Support1.35301.34421.30+1.2880

__________


  • USD/JPY

usdjpy090310

Current level - 90.27

The overall downtrend has been renewed with the recent break below 87.12. Trading is situated below the 50- and 200-day SMA, currently projected at 89.50 and 93.54.

After yesterday's test of 89.50 support the pair is ready for an upward swing to 90.60, en route to 91.50 dynamic resistance.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance90.6091.5093.4095.60
Support89.5088.1087.3683.45

__________


  • GBP/USD

gbpusd090310

Current level- 1.4901

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.

A break above 1.5018 will signal, that a bottom is in place and the third part of the consolidation pattern above 1.4779 will unfold upwards to 1.5120, en route to 1.5352.

Key Market Levels
MinorIntradayMajorIntraweek
Resistance1.50181.51201.53901.5833
Support1.48551.48551.44601.3506


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.
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