Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 12/23/09

Current level-1.4256

EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.
  
With the recent break below 1.6261, the downtrend has been renewed towards the initial target at 1.4150-70 area. Intraday support can be found at 1.4278, followed by the crucial 1.4373.

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Current level - 91.78

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.

The uptrend is intact and is targeting 92.40 resistance area with an initial support at 91.49. Crucial on the downside is 90.90 support zone.

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Current level- 1.5949

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 slide almost hit our target at 1.59+ and current rebound from 1.5919 is to be considered corrective in nature before next leg downwards, to 1.5812. Intraday resistance is 1.5995.