Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 02/01/10

Current level-1.3890

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 minor consolidation unfolds above 1.3851 low and we expect it to be limited below 1.3920, before next, probably the final leg of the downtrend since 1.4190. Current target remains 1.3740 support area and crucial on the upside is 1.3990.

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Current level - 90.39

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 its direction at 90.90 resistance and now is ready for a break below 89.57, which will confirm, that the focus is set on 88.30.

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Current level- 1.5952

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.

The downtrend from 1.6277 is intact and is targeting 1.5880 dynamic support on the daily frame. Crucial on the upside is 1.5980.