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
16, 2010
Current
level-1.3673
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.
Current rebound from 1.3528 is about to test the dynamic resistance
around 1.3690 and keeping in mind, that the overall bias remains
negative, we will expect a break below 1.3590 to target directly
1.3413, en route to 1.3321.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.3698 |
1.4260 |
| 1.3850 |
1.5146 |
|
| intraday |
intraweek |
| 1.3528 |
1.3413 |
| 1.3413 |
1.30+ |
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USD/JPY
USD/JPY
|
February
16, 2010
Current level - 89.82
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.
The pair is in a minor intraday downtrend and if it breaks below 89.50,
this will signal a beginning of the expected slide towards 87.36.
Crucial on the upside is 90.10,which guards the negative bias.
|
resistance
|
support
|
| intraday |
intraweek |
| 90.60 |
93.40 |
| 91.30 |
95.60 |
|
| intraday |
intraweek |
| 89.57 |
87.36 |
| 88.54 |
79.60 |
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GBP/USD
GBP/USD
|
February
16, 2010
Current level- 1.5714
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 prolonged consolidation pattern above 1.5530 is still on the run
and is currently testing 1.5760 resistance area. We think, that this
rally is a sell opportunity for 1.5352, while 1.5833 major resistance
is intact.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.5760 |
1.6459 |
| 1.5833 |
1.7042 |
|
| intraday |
intraweek |
| 1.5610 |
1.5352 |
| 1.5530 |
1.50+
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Sat |
Sun |
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