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Forex Technical Analysis

by Stoyan Mihaylov »


Date: 24.10.2014

Major Currency Pairs:   EUR/USD   USD/JPY   GBP/USD

EUR/USD

Current level - 1.2648

Forex Technical Analysis on EUR/USD

The prolonged consolidation above 1.2612 signals, that a larger corrective phase is underway and I favor a reversal above 1.2612 low to initiate a rise towards 1.2743 resistance area. Initial intraday resistance lies at 1.2680.

resistance
intraday intraweek
1.2680 1.2995
1.2743 1.3105
support
intraday intraweek
1.2612 1.2570
1.2570 1.2500

USD/JPY

Current level - 108.09

Forex Technical Analysis on USD/JPY

The uptrend from 106.23 has peaked precisely below 108.40 resistance and the pair has entered a consolidation phase, for a test of 107.40 support zone.

resistance
intraday intraweek
108.40 109.19
109.19 110.08
support
intraday intraweek
107.83 105.70
107.40 103.00

GBP/USD

Current level - 1.6026

Forex Technical Analysis on GBP/USD

The bias here remains negative, for one more slide towards 1.5950 support area before corrective rebound towards 1.6105.

resistance
intraday intraweek
1.6060 1.6280
1.6183 1.6530
support
intraday intraweek
1.5993 1.5950
1.5950
1.5870

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.

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