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
26, 2010
Current
level-1.3562
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.
All the tests of the 1.3442 support area have failed and the pair is
obviously still in the consolidation pattern below 1.3696. Wednesday's
high at 1.3626 has no technical importance, so crucial for the overall
negative bias is 1.3696. Current intraday bias is positive with
important support around 1.3510-26. Later today expect a reversal
around 1.3630 to initiate a downtrend for 1.3442.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.3630 |
1.3850 |
| 1.3696 |
1.4580 |
|
| intraday |
intraweek |
| 1.3510 |
1.3061 |
| 1.3442 |
1.2880 |
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USD/JPY
USD/JPY
|
February
26, 2010
Current level - 89.34
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 marked a local bottom at 88.80 and consolidation is underway,
aiming at 89.75 resistance. While this resistance is intact, further
depreciation is to be expected, towards 87.36.
|
resistance
|
support
|
| intraday |
intraweek |
| 89.76 |
93.40 |
| 90.52 |
95.60 |
|
| intraday |
intraweek |
| 88.80 |
87.36 |
| 88.55 |
79.60 |
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GBP/USD
GBP/USD
|
February
26, 2010
Current level- 1.5275
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 rebound from 1.5186 low is corrective in nature, preceding next
slide to 1.5061 main target. Important resistance on the upside is
1.5349, but we feel, that even 1.5319 could initiate a reversal and
renewal of the downtrend for 1.5061 area.
|
resistance
|
support
|
| intraday |
intraweek |
| 1.5292 |
1.6459 |
| 1.5349 |
1.7042 |
|
| intraday |
intraweek |
| 1.5186 |
1.50+ |
| 1.5061 |
1.4460
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