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Deltastock - Forex Technical Analysis

By DeltastockApr 17, 2008 08:00PM ET
www.investing.com/analysis/technical/deltastock---forex-technical-analysis-6184
Deltastock - Forex Technical Analysis
By Deltastock   |  Apr 17, 2008 08:00PM ET
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EUR/USD
 
 
Daily Analysis
18 April 2008
Current level-1.5943

The currency pair is in an uptrend unfolding from the 1.2484 bottom and probably ahead of a significant reversal on weekly basis. The technical indicators are rising and the trading is situated above the 50-day and the 200-day SMA, currently projected at 1.5317 and 1.4516.
 

 

The pair broke throgh the 1.59+ resistance, reaching high at 1.5981 that was practically a test of the 1.6000 sentiment level. Consolidation is unfolding since and we expect it to be limited above 1.5821 before renewing the uptrend towards 1.6103 and 1.6346 later on.
resistance
 support
intraday  intraweek
1.5981  1.60-sentiment
1.6000  1.6346
 
intraday  intraweek
1.5885  1.5341
1.5821  1.4961

 


USD/JPY

Daily Analysis
18 April 2008
Current level - 102.39

The pair is in a clear downtrend from the 114.66 top, after completing the broad consolidation since 107.21. The technical indicators are falling on daily basis and trading is situated below the 50- and 200-day SMA, currently projected at 103.15 and 111.03.  

 


Our short-term targets at 101.41 and 102.02 have been met, so we'll expect a downtrend to emerge, for a break below the 99.86 dynamic support, en route to 95.75.  Nevertheless the uptrend on he lower time-frames is still intact, aiming at 103.36-58, so only below 100.82  will be confirmed, that the outlook is toatally bearish for 95.75.
 resistance
  support
intraday  intraweek
102.13-27  103.58
102.92  104.97
 
intraday  intraweek
101.41  99.08

 


GBP/USD

Daily Analysis
18 April 2008
Current level- 1.9946
The pair has reversed at 1.9337 and the technical indicators are rising and convergent. Trading is situated below the 50-day MA, projected at 1.9741 and the 200-day SMA, at 1.9925.
 


With yesterday's break above the dynamic resistance at 1.9849, 1.9599 was confirmed to be the end of the slide from 2.0397. from a short-term point of view, current upmove will target 2.0397 and probably 2.0622. Intraday a strong uptrend is on the run and we expect it to reach 2.0198 before any significant corrective phase.


 resistance
  support
intraday  intraweek
1.9976  2.0461
2.0051  2.0575
 
intraday  intraweek
1.9697  1.9415
1.9650  1.9363

Deltastock - Forex Technical Analysis
 

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Deltastock - Forex Technical Analysis

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