Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 12/09/09

Current level-1.4765

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 1.4793 and 1.3523.
  
The downtrend is intact with a resistance at 1.4785 and crucial level at 1.4865. While the resistance holds, further depreciation is to be expected, towards 1.4623, en route to 1.4450.

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Current level - 87.56

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 94.86 and 94.84.

Still no signs of a reversal here, so allow deeper drowning toward 85.79 before larger rebound. Intraday resistance is seen at 88.19, followed by the crucial 88.72.

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Current level- 1.6285

The pair is in a downtrend after peaking at 1.7042. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.

The break below 1.6313 resulted in a fast sell-off, that bottomed at 1.6167, few pips above the important support around 1.6130. Current intraday bias is positive for 1.6316 and a clear break above that level will signal, that a larger rebound is on the run, towards 1.6460 key resistance.