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
22, 2010
Current
level-1.3618
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.
With the recent break above 1.3530-40 resistance zone, the pair entered
a larger consolidation pattern, that will aim to correct the whole
slide from 1.3790. The overall bias remains negative for 1.3061 with a
risk limit at 1.3850. Intraday dynamics is also negative for 1.3542
support area.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.3658 |
1.4032 |
| 1.3724 |
1.4580 |
|
| intraday |
intraweek |
| 1.3542 |
1.3326 |
| 1.3442 |
1.30+ |
|
USD/JPY
USD/JPY
|
February
22, 2010
Current level - 91.53
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 consolidation pattern below 92.16 and the
intraday bias is negative for 91.29 support. We expect 91.29 to ensure
a reliable base for the next leg upwards, to 92.67. Crucial on the
downside is 90.52 support area.
|
resistance
|
support
|
| intraday |
intraweek |
| 92.16 |
93.40 |
| 92.67 |
95.60 |
|
| intraday |
intraweek |
| 91.29 |
87.36 |
| 90.52 |
79.60 |
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GBP/USD
GBP/USD
|
February
22, 2010
Current level- 1.5477
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.
After matching our target at 1.5352, the pair has entered a larger
consolidation phase, that is about to test the 1.5530-55 resistance
area. The overall bias remains negative and while 1.5555 is intact, the
focus will be set at 1.5060 daily support area.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.5530 |
1.6459 |
| 1.5555 |
1.7042 |
|
| intraday |
intraweek |
| 1.5352 |
1.5352 |
| 1.5260 |
1.50+
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Sat |
Sun |
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