• Online Forex trading Community

Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 12/28/09



Current level-1.4387

EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.
A bottom has been set at 1.4216 low, few pips above the 200-day SMA projection. We believe, that the pair has entered a larger corrective phase and the initial target is 1.4499 resistance area. Keep in mind, that the liquidity during the last few days of the year is traditionally low.

Key Market Levels



Current level - 91.55

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.

Current consolidation below 91.89 precedes a test in the 92.40 resistance area and a reversal around that zone is to be expected, for 90.61 support area.

Key Market Levels



Current level- 1.5961

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 dynamics above 1.5919 is definitely corrective in nature, so the overall negative bias is absolutely intact, but due to the exceptional market conditions in the next few days, a range trading is more likely to be expected in the 1.59+ - 1.6167 zone.

Key Market Levels

Main Menu