Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 01/25/10

Current level-1.4137

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.
  
The pair is still in the consolidation pattern above 1.40+ sentiment level and below 1.4216-60 resistance zone. The intraday bias is slightly positive with a crucial level at 1.4080 and a break through that support will aim directly at 1.3924. Crucial on the upside is 1.4260.

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 Current level - 90.22

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.

The minor consolidation above 89.77 is still on the run and we expect it to be limited below 90.80 resistance level, before next leg unfolds downwards, to 88.90.

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 Current level- 1.6131

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.

Friday's break below the crucial 1.6167 transformed the minor rise from 1.6125 in a corrective phase and the downtrend was renewed, reaching a temporary low at 1.6077. The overall bias remains negative for 1.5901, en route to 1.5706 and crucial on the upside is 1.6283.