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
11, 2010
Current
level-1.3762
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.
Although the slide from 1.3839 is not by any means impulsive in nature,
we still favor a downtrend towards 1.3413 with a crucial level at
1.3850 resistance area.
|
resistance
|
support
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| 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
11, 2010
Current level - 89.99
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.
Current intraday bias is positive after failing to break below 89.14,
with an initial support around 89.76, but on the 4h. chart the
pair is still in a bearish mode, targeting 87.36. Crucial on the upside
is 91.28.
|
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
11, 2010
Current level- 1.5589
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 sell-off from 1.5765 has been corrected nicely to 1.5661 and the
pair is ready for a break below 1.5562, that will signal a renewal of
the downtrend towards 1.5352. Crucial on the upside is 1.5662.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.5662 |
1.6459 |
| 1.5765 |
1.7042 |
|
| intraday |
intraweek |
| 1.5560 |
1.5352 |
| 1.5535 |
1.50+
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Tue |
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Thu |
Fri |
Sat |
Sun |
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