Forex Technical Analysis on Majors

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

Current level-1.3922

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.
  
The break above 1.3920 signals, that the pair has entered a larger corrective phase ans will target 1.40+ sentiment level, before drowning to 1.3740 support.

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 Current level - 90.56

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.

We saw on more test in the 90.90 resistance area and the pair is still struggling below that zone. Only a break below 89.79 will initiate a downtrend for 88.36, en route to 87.35. The intraday bias is positive, well supported at 90.45.

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 Current level- 1.5920

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 pair has entered a larger consolidation pattern in the 1.5833-1.6070 zone. Intraday expect 1.5880 to support the pair for a rise towards 1.6050.