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Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 02/18/10



 Current level-1.3551

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.
Yesterday's slide below 1.3690 support has brought back the negative bias on stage and the pair has renewed the overall downtrend towards 1.3061. Crucial from an intraday point of view is 1.3596, but on the 4h. chart important remains 1.3850 resistance area.

Key Market Levels



 Current level - 90.85

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.

With the recent break above 91.30, a bottom has been confirmed at 88.56. Although the intraday bias is positive for 92.26 with an initial support at 90.52, on the 4h. chart we are rather neutral on that pair.

Key Market Levels



Current level- 1.5621

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 at 1.5833 resistance failed and the pair was reversed, breaking below 1.5730 support. With current slide below 1.5626, the bias here is negative again for 1.5352. Crucial on the lower frames is 1.5683.

Key Market Levels

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