Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 02/12/10

Current level-1.3615

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 sell-off from 1.3805 broke through 1.3676 and the pair has renewed its downtrend for 1.3413. Intraday resistance comes at 1.3696.

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Current level - 90.24

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.

Still in the corrective uptrend from 88.55 and we hold on to our view, that a reversal below 91.30 should be expected, for a sell-off towards 87.36. Trigger on the downside is 89.57.

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Current level- 1.5705

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 1.5560 failed and the pair still trades in the consolidation pattern above 1.5535. Intraday bias is positive with a support at 1.5660, but only a break below 1.5560 will renew the downtrend towards 1.5352.