Forex Technical Analysis : EUR/USD , USD/JPY & GBP/USD

Written by DeltaStock Inc. | Feb 17 09 08:51 GMT |

EUR/USD Current level-1.2634 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. Due to yesterday's Bank Holiday in US, the pair succeeded partially to fill the Monday's gap, reaching high at 1.2824. Now the support at 1.2705 is already broken and the bias is negative for 1.2547 and 1.2421. Resistance on the upside comes at 1.2705 and crucial for the downtrend is 1.2799. Resistance Support intraday intraweek intraday intraweek 1.2705 1.2799 1.31+ 1.3328 1.2631 1.2547 1.2421 1.2330 USD/JPY Current level - 91.32 The pair has finalized its consolidation above 90.95 at 97.48 and the general downtrend has been renewed, targeting 79.86. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76. With yesterday's break above 92.21 the pair has renewed its uptrend, peaking at 92.74. A corrective phase is unfolding below 92.74, before next leg upwards to 93.12. Crucial is 91.60 and on the 4 hour chart 89.82 has become the trigger point for a sell towards 87.12. Resistance Support intraday intraweek intraday intraweek 92.74 93.12-64 94.64 97.48 91.60 89.53 87.12 79.83 GBP/USD Current level- 1.4195 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 rebound from 1.4149 reached 1.4317, failing to fill precisely the gap to 1.4365 and now a downtrend is on the run towards the important 1.4020-50. Good resistance on the upside is 1.4233 and intraday target lies at 1.4050. Resistance Support intraday intraweek intraday intraweek 1.4233 1.4365 1.4590 1.4986 1.4137 1.4050 1.4020 1.3506 DeltaStock Inc. - Online Forex & Securities Broker www.deltastock.com