Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 02/09/10

Current level-1.3735

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.
  
Still in the minor consolidation pattern above 1.3585 and the overall bias continues to be bearish for 1.3413.

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Current level - 89.70

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.

Although current bias is neutral, the downtrend for 87.36 is intact and a break below 89.10 will renew the slide towards 88.24. Initial resistance comes at 90.06.

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Current level- 1.5601

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 consolidation pattern is close to its final and although there is a chance for a tight test in the 1.5706-24 area, the overall bias is negative for 1.5352. Important for today are the support at 1.5560 and the resistance around 1.5647.