Forex Technical Analysis on Majors

Stoyan Mihaylov from www.deltastock.com at 11/18/09

 Current level-1.4901

EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4793 and 1.3523.
  
Yesterday's slide bottomed at 1.4809 and current bias is positive for 1.4987 dynamic resistance. A break above 1.5015 will confirm, that the prolonged consolidation below 1.5050 is already over and the focus will be set on 1.5130 and 1.5280. Intraday crucial level is 1.4869.

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  Current level - 89.12

A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated below the 50- and 200-day SMA, currently projected at 94.86 and 94.84.

With yesterday's high at 89.56, the bias has turned into negative again and is currently focusing on 88.73, en route to 88.21. Intraday resistance comes at 89.21.

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 Current level- 1.6801

The pair is in a downtrend after peaking at 1.7042. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.

A minor top is set at 1.6877 and current corrective slide is testing 1.6752 support before next leg upwards, to 1.6957. The GBP is well supported at 0.8913 in EUR/GBP.