The pair has built a local bottom at 1.5283 and has advanced well to 1.5571. Technical indicators are reversing and divergent. The 50- day SMA is currently projected at 1.5631.
Yesterday's renewing of the uptrend from 1.5561 has peaked at 1.5633 and rallied nicely all the way down to the 1.5484 dynamic support. Obviously this has signalized for entering a corrective phase before next leg upwards to our previous target at 1.5710. Today we will expect the current uptrend from 1.5484 to reverse and to aim downwards to 1.5510 or even 1.5493 where the whole consolidation structure shall be completed for an advance towards 1.5710. Today's strategy: Sell current highs with a risk limit above 1.5633 and a target at 1.5513.
resistance
support
intraday
intraweek
1.5633
1.5807
1.5712
1.60-sentiment
intraday
intraweek
1.5521
1.50
1.5283
1.4467
USD/JPY
Daily Analysis
20 May2008 Current level - 103.79 The pair is in a corrective uptrend from the 95.75 short-term bottom. Technical indicators are rising slowly and the upmove is dynamically supported at 102.36. The inner structure of the rise is by all means a corrective one, so from a larger point of view the overall downtrend from 124.14 is not over yet.
The pair has tested the dynamic resistance at 105.44 and is downtrending nicely since that level. There is not enough info if the corrective activity above 103.56 is already over, or there is one more upward leg to come, that will challenge 104.70 again. Today' strategy: Try tiny longs from 103.79 with a risk limit below 103.56 and target at 104.31.
resistance
support
intraday
intraweek
105.68
106.31
105.93
108.31
intraday
intraweek
103.56
100.82
103.12
95.75
GBP/USD
Daily Analysis
20 May2008 Current level- 1.9579
Downtrend from the 2.0397 local top is still intact and has reached a low at 1.9374. Technical indicators are reversed on the 4 h. chart and the trading is situated below the 50- and 200-day SMA, currently projected at 1.9819 and 2.0044.
Yesterday's test of the 1.9633-48 dynamic resistance failed and the pair has entered a corrective phase, that should test 1.9431 support before completion. All that rebound from the 1.9338 important support is still in the middle of its evolution, so be patient and wait for a good bottom to be build at 1.9431-47, that will set the stage for an advance to 1.9724. Today's strategy : Sell current highs with a stop above 1.9625 and a target at 1.9459 .
resistance
support
intraday
intraweek
1.9633
1.9961
1.9963
2.0192
intraday
intraweek
1.9526
1.9338
1.9338
1.9196
These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Deltastock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Deltastock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon the information on this page. Deltastock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.
Disclaimer: All information on this web site is subject to change. The use of this web site constitutes acceptance
of our user agreement. All publisher financial articles at
FXtree.com are those of the individual authors and do not represent trading recommendations
of FXtree.com or its staff.
