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Stoyan Mihaylov Our Financial Analyst at Deltastock, Stoyan Mihaylov has an eight-year background as a senior FX Dealer, trading spot and outright forwards. Since May 2006, Stoyan has been providing daily, weekly and mid-term analyses on the Foreign Exchange Market. He has also been reading lectures on FX Fundamental and Technical Analyses in major Bulgarian Universities. Stoyan Mihaylov has graduated MBA in the University of Economics – Varna, Bulgaria.

Forex Technical Analysis

Major Currency Pairs


EUR/USD     USD/JPY     GBP/USD

EUR/USD

Daily Technical Analysis on EUR/USD

February 3, 2012
Current level - 1.3170

With yesterday's test of 1.3090 support area the consolidation pattern below 1.3218 can be considered as complete and my outlook is bullish, for a break through 1.3192, towards 1.3230, en route to 1.3360.
resistance
intraday intraweek
1.3192 1.3230
1.3360 1.3550
support
intraday intraweek
1.3090 1.2870
1.3026 1.2624

USD/JPY

Daily Technical Analysis on USD/JPY

February 3, 2012
Current level - 76.12

Nothing interesting here and the downtrend from 78.28 is still intact, heading towards 75.56 low. The volatility is low and the intraday bias - almost neutral, but my outlook remains negative below 76.40, for 75.56.
resistance
intraday intraweek
76.40 78.25
77.30 80.00
support
intraday intraweek
75.90 75.56
75.56 ---

GBP/USD

Daily Technical Analysis on GBP/USD

February 3, 2012
Current level - 1.5840

The corrective phase below 1.5881 is already over with yesterday's test of 1.5790 support area, so current bias is to be considered bullish, for a rise towards 1.5980, en route to 1.6120.
resistance
intraday intraweek
1.5881 1.5888
1.5980 1.6120
support
intraday intraweek
1.5790 1.5528
1.5706
 1.5234
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These analyses are for information purposes only. They do not post a buy or sell recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources.

The forecasts made are based on technical analysis. However, Deltastock's Analyst Deptartment also takes into consideration a number of fundamental and macroeconomic factors, which we believe may impact the price moves of the observed instruments.

Deltastock AD assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Deltastock AD shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without prior notice.




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