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
8, 2010
Current
level-1.3693
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.
The downtrend is intact and current minor consolidation is expected to
be limited below 1.3740 before next, deeper drowning to 1.3413. Crucial
on the upside is 1.3850.
|
resistance
|
support
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| intraday |
intraweek |
| 1.3740 |
1.4260 |
| 1.3850 |
1.5146 |
|
| intraday |
intraweek |
| 1.3649 |
1.3413 |
| 1.3563 |
1.30+ |
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USD/JPY
USD/JPY
|
February
8, 2010
Current level - 89.42
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.
Although current bias is neutral, the downtrend for 87.36 is intact and
a break below 89.10 will renew the slide towards 88.24. Initial
resistance comes at 90.06.
|
resistance
|
support
|
| intraday |
intraweek |
| 90.08 |
93.40 |
| 91.30 |
95.60 |
|
| intraday |
intraweek |
| 88.54 |
87.36 |
| 87.36 |
79.60 |
|
GBP/USD
GBP/USD
|
February
8, 2010
Current level- 1.5593
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.
A minor consolidation is on the run above recent low at 1.5532 and
further depreciation is to be expected towards 1.5352 main target area.
Crucial on the upside is 1.5660 resistance zone.
|
resistance
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support
|
| intraday |
intraweek |
| 1.5654 |
1.6459 |
| 1.5833 |
1.7042 |
|
| intraday |
intraweek |
| 1.5532 |
1.5352 |
| 1.5412 |
1.50+
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Sat |
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