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Forex Technical Analysis

by Stoyan Mihaylov

Date: 17.04.2014

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


Current level - 1.3839

Forex Technical Analysis on EUR/USD

Yesterday's break through 1.3830 support after the intraday peak at 1.3850 has neutralized the positive bias and the pair is caught in a tight range. Although there is a risk of one more downswing for a another test of 1.3780, my outlook here is bullish, for a break through 1.3862 resistance, en route to 1.3966 high. Minor intraday support lies at 1.3830.
intraday intraweek
1.3863 1.4000
1.3904 1.4250
intraday intraweek
1.3830 1.3672
1.3780 1.3475


Current level - 102.00

Forex Technical Analysis on USD/JPY

The upswing after 101.30 reached a local peak at 102.35 and the intraday bias is already bearish, for a slide through 101.30-16 major support, en route to 100.00 sentiment zone. Initial minor resistance lies at 102.15, followed by the major hurdle at 102.70.
intraday intraweek
102.15 104.10
102.70 105.40
intraday intraweek
101.85 101.30
101.30 99.88


Current level - 1.6830

Forex Technical Analysis on GBP/USD

Today's break through 1.6822 high signals a bullish bias on most of the time-frames and my outlook is positive, for a further rise towards 1.6890, en route to 1.7000 major resistance. Initial minor support is projected at 1.6820, followed by the crucial 1.6780 and only a violation of the latter will signal, that the upmove from 1.6660 is over.
intraday intraweek
1.6890 1.7000
1.7000 1.7000
intraday intraweek
1.6820 1.6660

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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