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
|
February
25, 2010
Current
level-1.3489
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 below 1.3531 confirmed the corrective nature of the
rebound above 1.3497 and the downtrend has been renewed, targeting
1.3061. From an intraday point of view, the pair is in a minor
consolidation pattern above 1.3442 low and below 1.3501 resistance.
Crucial on the upside is 1.3549. Expect a sell-off below 1.3501 to
target directly 1.3320.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.3501 |
1.3850 |
| 1.3630 |
1.4580 |
|
| intraday |
intraweek |
| 1.3442 |
1.3061 |
| 1.3320 |
1.2880 |
|
USD/JPY
USD/JPY
|
February
25, 2010
Current level - 89.38
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 |
| 89.76 |
93.40 |
| 90.52 |
95.60 |
|
| intraday |
intraweek |
| 89.12 |
87.36 |
| 88.55 |
79.60 |
|
GBP/USD
GBP/USD
|
February
25, 2010
Current level- 1.5319
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 resistance area at 1.5475 remained intact and the downtrend was
renewed, breaking below 1.5386 and 1.5344. The overall bias continues
to be negative for 1.5061 with an intraday resistance at 1.5349 and
crucial level above 1.5391.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.5349 |
1.6459 |
| 1.5391 |
1.7042 |
|
| intraday |
intraweek |
| 1.5245 |
1.50+ |
| 1.5061 |
1.4460
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