EUR/USD is in an uptrend from recent bottom at 1.5301, that was the final of the prolonged consolidation since 1.5909 (17 March 2008). Technical indicators are slowly rising and trading is situated above the 50- and 200-Day SMA, currently projected at 1.5609 and 1.5095.
240 min. chart
Our target at 1.5678 has been met, but current downtrend is still intact and it will aim at 1.5631 and 1.5610 before reversal. The overall outlook hasn't suffered any changes, and we still continue to think, that current slide from 1.6039 is a corrective one, preceding new highs above 1.6135. Intraday bias is negative, towards 1.5631. Today's strategy: Buy on a break above 1.5694, stop below intraday low, target seen at 1.5791. Until below 1.5671, sell for 1.5610.
24 July 2008 Current level - 107.82 The pair has finalized its corrective uptrend from 95.75 mid-term bottom with the recent top at 108.59. Trading is situated below the 50- and 200-day SMA, currently projected at 105.81 and 107.25.
240 min. chart
Minor top has been set at 107.98, being a final of the 106.06-107.98 rise. So a three-day corrective phase is expected with a potential to challenge 107.10 before renewing the uptrend towards 108.59. Today's strategy: Sell at current levels, stop above 107.98, target seen at 107.21.
The pair is in a broad consolidation above 1.9338 and below 2.0397. Technical indicators are flat on the higher time-frames and trading is situated above the 50- and 200-day SMA, currently projected at 1.9685 and 1.9982.
180 min. chart
Yesterday's rise to 2.0027 was a part of the corrective phase above 1.9901 support, so now the final, impulsive leg downwards is on the run, targeting 1.9826. A reversal should be expected around 1.9813-26 for next upward stage, towards 2.0274. Today's strategy : Stand aside.
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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