The pair has set a local top at 1.5844 completing the corrective structure from 1.5283. Technical indicators are falling. The 50- day SMA is currently projected at 1.5638.
The consolidation after yesterday's low at 1.5377 has been completed at 1.5482 and the downtrend is renewed for 1.5283. Crucial resistance on the upside is 1.5586, as only a break above that level will signal, that the downswing from 1.5844 is over. Today's strategy: Sell current levels for 1.5311.
13 June 2008 Current level - 108.01 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.
Adavancing steady to our target at 108.31 with initial support at 107.72. We still expect a reversal around 108.31 and a significant downtrend to emerge, towards 102.63. Today' strategy: Stand aside.
The downtrend from the 2.0397 local top 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.
Still downtrending with initial resistance at 1.9489, but the overall bias stays positive and we still favour upward movement, as our expectations are based on the higher time-frames and on the emerging downtrend in EUR/GBP, that will aim at 0.7691. Today's strategy : Go long on a break above 1.9490. Stop below intraday low, target is TBD later.
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.
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