Stoyan Mihaylov, a Financial Analyst at Deltastock, 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.
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FOREX TECHNICAL ANALYSIS
Deltastock Daily FX Analysis
EUR/USD
USD/JPY
GBP/USD
EUR/USD
EUR/USD
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February
10, 2010
Current
level-1.3766
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.
Yesterday's break above 1.3740 intraday resistance cleared the road for
a precise test of 1.3850. Current bias is neutral, but we expect a
break below 1.3690 to initiate a downtrend for 1.3585, en route to
1.3413.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.3850 |
1.4260 |
| 1.3850 |
1.5146 |
|
| intraday |
intraweek |
| 1.3692 |
1.3413 |
| 1.3585 |
1.30+ |
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USD/JPY
USD/JPY
|
February
10, 2010
Current level - 89.63
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.
Still in the consolidation pattern above 88.54 and while 90.06 limits
the upside, the overall bias will continue to be negative for 87.36.
Important on the downside is 89.14.
|
resistance
|
support
|
| intraday |
intraweek |
| 90.08 |
93.40 |
| 91.30 |
95.60 |
|
| intraday |
intraweek |
| 89.14 |
87.36 |
| 88.54 |
79.60 |
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GBP/USD
GBP/USD
|
February
10, 2010
Current level- 1.5667
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.
Current bias is positive with an initial support around 1.5647. We
favor a break below that zone, that will target 1.5532, en route to
1.5352. On the upside major resistance is 1.5835.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.5747 |
1.6459 |
| 1.5835 |
1.7042 |
|
| intraday |
intraweek |
| 1.5647 |
1.5352 |
| 1.5535 |
1.50+
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