• Online Forex trading Community

Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 10/27/09



Current level-1.4906

EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4134 and 1.3523.
With the break below 1.5009 and 1.4980, 1.5063 is confirmed to be the final of the rise from 1.4478, so currently a downtrend is on the run, aiming at 1.4690, en route to 1.4450. Current pattern above 1.4840 support is corrective in nature and will result in deeper drowning towards 1.4690. Intraday bias is neutral, in the 1.4877-1.4945 range. Crucial on the upside is 1.4980.

Key Market Levels



Current level - 92.01

A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated below the 50- and 200-day SMA, currently projected at 94.86 and 94.84.

Still no signs of a reversal here, but the crucial level on the downside has been changed from 91.20 to 91.57 and we continue to think, that 92.40 resistance will remain intact. Intraday bias is negative for 91.20 with a risk limit above 92.16.

Key Market Levels



Current level- 1.6351

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 consolidation pattern above 1.6250 support is expected to be completed soon and next leg downwards should follow, towards 1.6130 area. Intraday bias is positive for 1.6401, en route to 1.6466 with a risk limit below 1.6305. A break below 1.6305 should be considered as a confirmation, that the sell towards 1.6130 is already on the run.

Key Market Levels

Main Menu