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Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 01/05/10



Current level-1.4415

EUR/USD is in a downtrend, after peaking at1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.
Yesterday's rise peaked at 1.4483 and currently a minor downtrend is on the run, testing 1.4401 support zone. We expect a break below that area to provoke a slide towards 1.4335 dynamic support. On the larger frames, the consolidation pattern above 1.4216 is still unfolding and today's dynamics will clearly show if there is a chance for a larger rebound to 1.4670 resistance. Important on the downside is 1.4257.

Key Market Levels



Current level - 91.96

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.

As expected, the pair reversed below 93.40 resistance area and is currently in a downtrend towards 90.60 target area. Important resistance on the upside comes at 92.17 and crucial is 92.70.

Key Market Levels



Current level- 1.6072

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.

Yesterday's test of 1.6240 resistance failed and the pair is testing 1.6030-50 support area again. We continue to think, that there is a chance for a rise towards 1.6410, but 1.6155 should give way for that idea to be confirmed.

Key Market Levels

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