Forex Technical Analysis

By DeltastockApr 29, 2008 08:00PM ET

www.investing.com/analysis/technical/forex-technical-analysis-6623

Forex Technical Analysis

By Deltastock | Apr 29, 2008 08:00PM ET

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EUR/USD
Current level-1.5597

The pair is in a downtrend from the short-term top at 1.6019. Technical indicators on the 4 h. chart are falling and are still above the oversold zone. Important support is seen at 1.5497-5532, followed by the previous month's low at 1.5341. Trading is situated above the 50- and 200- day SMA , currently projected at 1.5534 and 1.4606.

The market is ranging , expecting today's FED interest rate decision, that will be announced at 14:15 NYT. Initial support comes at 1.5535 and 1.5694 has capped the upside for today. Intraday we expect the pair to rise in a corrective mode towards 1.5661, before reversing for the final test of the 1.5497 support. The strategy for today is trading the upward channel from 1.5535 , establishing longs around 1.5576 with a risk limit below 1.5551 and an intraday target at 1.5643.

resistance

support

intraday	intraweek
1.5694	1.5807
1.5807	1.60-sentiment

intraday	intraweek
1.5535	1.5497
1.5497	1.5341

---------------------

USD/JPY

Current level - 103.77

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 above the 50- and 200-day SMA, currently projected at 102.74 and 110.57.

We still expect a downtrend to emerge, for a break below the 99.86 dynamic support, en route to 95.75. Nevertheless the uptrend on the lower time-frames is still intact, so only below 100.82 will be confirmed, that the outlook is totally bearish for 95.75.
It is not clear if with yesterday's bottom at 103.23, the whole consolidation pattern since 104.67 has ended, but we will expect ranging above 103.23 and below 104.21. Break above 104.37 is needed to put 104.97 on test and probably 105.51 later on. Today we are rather neutral, so take your time and wait for the FED's announcement.

resistance

support

intraday	intraweek
104.21	104.97
104.97	108.31

intraday	intraweek
103.23	100.82
102.68	95.75

---------------------

GBP/USD
Current level- 1.9647

The pair has reversed at 1.9337 and the technical indicators are rising and convergent. Trading is situated between the 50-day MA, projected at 1.9741 and the 200-day SMA, at 1.9925.

After yesterday's break below 1.9782 crucial support it became clear, that the bigger corrective construction from the 2.0397 top is not yet finalized and new bottom below the 1.9599 low is to be expected. This doesn't change much our short-term view (for one more leg upwards to 2.0397 and 2.0531), but has postponed our expectations for a forthcoming test of the 2.0196 resistance zone.
We expect a local bottom to be build around current levels for a rise towards 1.9803. Will wait for a clear break above 1.9687 to go long for 1.9794.

resistance

support

intraday	intraweek
1.9687	1.9961
1.9794	2.0192

intraday	intraweek
1.9625	1.9599
1.9599	1.9421

Disclaimer: Deltastock Inc. warns its present and future clients that currency, precious metals and CFDs trading is a high-risk activity, where the possibility of suffering losses is considerable. The leverage used magnifies your losses, as well as your gains. Deltastock Inc. opperates under the EU Markets in Financial Instruments Directive of the European Parliament and the Council. Thus clients are ensured the utmost protection of their interests.

Daily Technical Strategy By Lloyds TSB Corporate Markets - Jan 05, 2009

EUR/USD:Broader themes may have to take a back seat for a couple of weeks, but the bias remains broadly dollar negative. Re-try a small buy against 1.3430 support, stop 1.3380,...

Technical oscillators supporting the~bullish trend for the USD/CHF... By Finotec - Jan 05, 2009

USD/CHF – Market strategy is bullish, buying from the 1.1180~levelUSD/CHF-market strategy can be a buy from the level 1.1180Technical oscillators supporting the bullish trend...

January 06 analysis By Investija - Jan 05, 2009

In this PDF you will find the latest technical analysis published by Forex Trends

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Central Banks

Interest Rates

Next Meeting

FED

3.75%

Jun 17, 2026

ECB

2.15%

Jun 11, 2026

BOE

3.75%

Jun 18, 2026

SNB

0.00%

Jun 18, 2026

RBA

4.35%

Jun 16, 2026

BOC

2.25%

Jun 10, 2026

RBNZ

2.25%

May 27, 2026

BOJ

0.75%

Jun 16, 2026

CBR

14.50%

Apr 24, 2026

RBI

5.25%

Apr 09, 2026

PBOC

3.00%

BCB

14.50%

Apr 28, 2026

US 30	51,268.0	+235.3	+0.46%
US 500	7,602.2	+22.1	+0.29%
Dow Jones	51,032.46	+363.49	+0.72%
S&P 500	7,580.06	+16.43	+0.22%
Nasdaq	26,972.62	+55.15	+0.20%
S&P 500 VIX	15.78	+0.46	+3.00%
Dollar Index	99.030	+0.178	+0.18%

Crude Oil WTI	90.73	+3.37	+3.86%
Brent Oil	94.12	+3.00	+3.29%
Natural Gas	3.335	+0.045	+1.37%
Gold	4,534.40	-58.60	-1.28%
Silver	76.005	+0.130	+0.17%
Copper	6.5423	+0.1533	+2.40%
US Soybeans	1,190.25	+3.25	+0.27%

U.S. 10Y	4.467	+0.015	+0.34%
U.S. 30Y	4.987	-0.006	-0.12%
U.S. 5Y	4.174	+0.025	+0.60%
U.S. 3M	3.684	+0.007	+0.19%
US 10Y T-Note	109.91	-0.17	-0.16%
Euro Bund	125.97	-0.52	-0.42%
10-2 Yield Spread	31.32	+4.15	+15.27%

Apple	312.06	-0.45	-0.14%
NVIDIA	211.14	-3.11	-1.45%
Alphabet A	380.34	-9.79	-2.51%
Tesla	435.79	-6.31	-1.43%
Amazon.com	270.64	-3.36	-1.23%
Netflix	86.02	-0.34	-0.39%
Meta Platforms	632.51	-2.78	-0.44%

Forex Technical Analysis

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