Forex Technical Analysis
EUR/USD
Current level-1.3267EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are rising, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3292 and 1.4721.Monday's break above 1.3080 confirmed, that a short-term bottom has been set at 1.2769 and the pair is in an uptrend towards 1.4135. After yesterday's FOMC statement the pair was vastly sold-off to 1.3102 and currently the downtrend from 1.3328 is intact, with crucial level above 1.3117.Resistance Supportintraday intraweek intraday intraweek 1.3328 1.3530 1.3012 1.2769 1.3382 1.3749 1.2943 1.2557
USD/JPYCurrent level - 90.19The pair has finalized its consolidation above 90.95 at 97.48 and the general downtrend has been renewed, targeting 79.86. Trading is situated below the 50- and 200-day SMA, currently projected at 107.61 and 105.76Still in the broad consolidation above 87.12 and there are no signs of topping so far. Only below 88.43 the piar will enter a fast downtrend towards 86.31 and 83.01. Intraday support comes at 89.46 and nice resistance on the upside is 91.26.Resistance Support intraday intraweek intraday intraweek 90.83 93.83 88.35 87.12 91.59 97.48 87.12 83.01
GBP/USDCurrent level- 1.4093The pair is in a the last phase of the downtrend from 2.0153. Trading is situated below the 50- and 200-day SMA, currently projected at 1.5505 and 1.8341.Monday's break above 1.3911 confirmed, that a local bottom has been set at 1.3506 and currently an uptrend is on the run, towards 1.4620. Keeping in mind, that the internal structure of the rise from 1.3506 is not an impulsive one, but a clearly corrective in nature, we have to accept the current uptrend, being only a corrective phase, a part of the downtrend since 1.5722. Nevertheless, intraday bias is positive, well supported at 1.4021.Resistance Support intraday intraweek intraday intraweek 1.4260 1.4374 1.4020 1.3372 1.4374 1.5727 1.3920 1.30+
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