Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 02/11/10

 Current level-1.3762

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.
  
Although the slide from 1.3839 is not by any means impulsive in nature, we still favor a downtrend towards 1.3413 with a crucial level at 1.3850 resistance area.

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 Current level - 89.99

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 intraday bias is positive after failing to break below 89.14, with an initial  support around 89.76, but on the 4h. chart the pair is still in a bearish mode, targeting 87.36. Crucial on the upside is 91.28.

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 Current level- 1.5589

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 sell-off from 1.5765 has been corrected nicely to 1.5661 and the pair is ready for a break below 1.5562, that will signal a renewal of the downtrend towards 1.5352. Crucial on the upside is 1.5662.