Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 02/03/10

Current level-1.3999

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 intraday bias is bullish for 1.4050 resistance, with nearest support around 1.3970. An eventual break above 1.4050 will state, that an important bottom has been set at 1.3850 and will target 1.4216 resistance area.

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Current level - 90.26

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 resistance around 90.90 is still intact and we expect a break below 89.76 to target directly 88.35.

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 Current level- 1.6054

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 resistance at 1.6070 is about to be tested and a reversal below that area is likely to target 1.5996 intraday support. An eventual break above 1.6070 will confirm, that a major bottom is in place, being a final of the whole slide from 1.6459.