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Forex Technical Analysis

by Stoyan Mihaylov »


Date: 31.10.2014

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

EUR/USD

Current level - 1.2555

Forex Technical Analysis on EUR/USD

The pattern above 1.2540 is corrective in nature, thus preceding a break through 1.2500 low, en route to 1.2380. Initial intraday resistance lies at 1.2600, followed by the 1.2632 high.

resistance
intraday intraweek
1.2600 1.2840
1.2720 1.3105
support
intraday intraweek
1.2540 1.2500
1.2500 1.2240

USD/JPY

Current level - 111.57

Forex Technical Analysis on USD/JPY

Today's break through 109.44 unleashed a severe uptrend, which is currently absolutely intact, heading towards 113.20 resistance area. Crucial on the downside is the intraday low at 111.00.

resistance
intraday intraweek
112.10 113.20
113.20 116.50
support
intraday intraweek
111.00 108.34
110.08 105.70

GBP/USD

Current level - 1.5973

Forex Technical Analysis on GBP/USD

The rebound above 1.5950 peaked at 1.6037 and it is obvious, that current pattern is corrective in nature, preceding a break through 1.5940, en route to 1.5870 and 1.5740. Crucial resistance on the upside lies at 1.6070.

resistance
intraday intraweek
1.6010 1.6280
1.6070 1.6530
support
intraday intraweek
1.5940 1.5870
1.5870
1.5740

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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