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
24, 2010
Current
level-1.3531
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 peak at 1.3693 was the final of the consolidation pattern
above 1.3443 and the pair has renewed its downtrend towards 1.3320, en
route to 1.3061. Intraday resistance comes at 1.3575.
|
resistance
|
support
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| intraday |
intraweek |
| 1.3575 |
1.3850 |
| 1.3693 |
1.4580 |
|
| intraday |
intraweek |
| 1.3490 |
1.3326 |
| 1.3442 |
1.30+ |
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USD/JPY
USD/JPY
|
February
24, 2010
Current level - 90.11
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.
With the recent break below 90.52, a top has been confirmed at 92.15
and current bias is negative for 88.55. Current consolidation pattern
above 89.92 is expected to be limited below 90.52.
|
resistance
|
support
|
| intraday |
intraweek |
| 90.52 |
93.40 |
| 92.67 |
95.60 |
|
| intraday |
intraweek |
| 89.92 |
87.36 |
| 88.55 |
79.60 |
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GBP/USD
GBP/USD
|
February
24, 2010
Current level- 1.5441
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 1.5575 is being corrected at the moment and with the
reliable resistance at 1.5475, the pair is ready for the next leg
downwards, to 1.5060.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.5475 |
1.6459 |
| 1.5575 |
1.7042 |
|
| intraday |
intraweek |
| 1.5419 |
1.5342 |
| 1.5342 |
1.50+
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Sat |
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