EUR/USD
Current level-1.4622
EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4134 and 1.3523.
The recent break below 1.4611 confirmed, that a larger corrective phase is on the run from 1.4842, targeting 1.4444 support. Intraday bias is slightly positive towards 1.4653, where a reversal should be expected, for next leg downwards, to 1.4493.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.4801 | 1.50+ | 1.4660 | 1.4611 |
| 1.4911 | 1.6040 | 1.4611 | 1.3746 |
USD/JPY
Current level - 89.53
A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated below the 50- and 200-day SMA, currently projected at 94.86 and 94.84.
Recent break below 90.12 provoked a sharp sell-off towards 88.41, thus filling our target at 88.64 and currently the pair is in a corrective phase below 90.34, that should be followed by one more downward test of the 87.12 weekly low. Intraday bias is positive for 89.92 and 90.34 with a risk limit below 89.15. Current consolidation above 88.42 is expected to last minimum 4 trading sessions.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 89.92 | 93.40 | 89.12 | 87.12 |
| 90.34 | 101.45 | 88.42 | 83.53 |
GBP/USD
Current level- 1.5872
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.
Friday's minor consolidation was limited to 1.6050 in its attempt to test the important break below 1.6110 and the downtrend was renewed, reaching local bottom at 1.5766. Current bias is corrective in nature and we expect 1.5915 to limit the upside for the next leg downwards, to 1.5352 weekly support.
| Resistance | Support | ||
| intraday | intraweek | intraday | intraweek |
| 1.5912 | 1.6130 | 1.5766 | 1.5352 |
| 1.6030 | 1.7042 | --- | 1.50+ |
No comments:
Post a Comment