Forex Technical Analysis | Daily Trading Analysis

Deltastock Daily FX Analysis EUR/USD USD/JPY GBP/USD

EUR/USD

February 9, 2010
Current level-1.3735

EUR/USD is in a downtrend, after peaking at 1.5146 (Nov.25,2009). Technical indicators are neutral, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.4793 and 1.4169.

Still in the minor consolidation pattern above 1.3585 and the overall bias continues to be bearish for 1.3413.

resistance

support

intraday	intraweek
1.3740	1.4260
1.3850	1.5146

intraday	intraweek
1.3649	1.3413
1.3563	1.30+

USD/JPY

February 9, 2010
Current level - 89.70

The overall downtrend has been renewed with the recent break below 87.12. Trading is situated below the 50- and 200-day SMA, currently projected at 89.50 and 93.54.

Although current bias is neutral, the downtrend for 87.36 is intact and a break below 89.10 will renew the slide towards 88.24. Initial resistance comes at 90.06.

resistance

support

intraday	intraweek
90.08	93.40
91.30	95.60

intraday	intraweek
88.54	87.36
87.36	79.60

GBP/USD

February 9, 2010
Current level- 1.5601

The pair is in a downtrend after peaking at 1.7042. Trading is situated between the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.

The consolidation pattern is close to its final and although there is a chance for a tight test in the 1.5706-24 area, the overall bias is negative for 1.5352. Important for today are the support at 1.5560 and the resistance around 1.5647.

resistance

support

intraday	intraweek
1.5647	1.6459
1.5727	1.7042

intraday	intraweek
1.5560	1.5352
1.5412	1.50+