Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 12/11/09

 Current level-1.4728

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 prolonged consolidation above 1.4623 is still on the run and while 1.4801 limits the upside, the bias will remain negative for 1.4450 support. Intraday allow one more upswing for a test of 1.4780 resistance.

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 Current level - 88.69

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.

The intraday bias is positive, well supported at 88.45 and a break above 88.75 will target 89.35-54 area. Crucial on the downside is 88.16.

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 Current level- 1.6309

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.

Still in the consolidation pattern above 1.6130 and current intraday bias is positive, well supported at 1.6291 and is targeting 1.6460 resistance. A break above 1.6347 will confirm the positive outlook. On the bigger frames, a break below 1.6220 will set an end of the corrective phase and will aim at 1.59+ support area.