EUR/USD is in а downtrend from 1.6039 (15 July 2008). Technical indicators are descending and trading is situated below the 50- and 200-Day SMA, currently projected at 1.5677 and 1.5227.
240 min. chart
The pair managed to reach 1.5502, that was practically a test of the 1.5516 crucial resistance, but as it did not break above that level, the downtrend since 1.6039 remained intact and the sell-off emerged, breaking below the important support at 1.5301. Having in mind, that there is no reliable support all the way down to 1.50 , we expect to see renewing of the downtrend towards 1.5076 before entering a larger corrective phase. Nearest resistance is projected at 1.5301. Today's strategy: Sell for 1.5076, stop above intraday high.
08 August 2008 Current level - 109.77 The pair is still in the broad consolidation since 95.75 short-term bottom, aiming at 111.03. Trading is situated above the 50- and 200-day SMA, currently projected at 107.09 and 106.62.
240 min. chart
The consolidation below 109.89 has reached 109.14, slightly above the 109.07 support and is ready to break above, targeting 111.03. After breaking above 109.89, crucial support will become yesterday's low at 109.14. Today's strategy: Buy for 111.03, stop below 109.14.
The pair has finished the broad consolidation above 1.9338 and the general downtrend has been renewed, targeting levels below 1.85 . Trading is situated below the 50- and 200-day SMA, currently projected at 1.9752 and 1.9853.
180 min. chart
The break below the dynamic support at 1.9443 has cleared the way for 1.9338 and the pair reached low at 1.9271. This is a clear sign, that the prolonged consolidation since 22 January 2008 has ended at 2.0153 and the general downtrend has been renewed for 1.85 . Intraday expect acceleration of the downtrend towards 1.9113 and probably 1.9000. Crucial resistance is 1.9416. 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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