Deltastock Daily FX Analysis

[Deltastock]

July 18, 2011
Current level - 1.4037

EUR/USD is in a consolidation after the recent top at 1.4941 (May 4th, 2011). Technical indicators are descending and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4311 and 1.3636.

Still in the descending corrective channel below 1.4281 high and the intraday bias is negative with an initial resistance at 1.4090. I continue to favor a reversal for a break through 1.4090 and 1.4199, en route to 1.4370. Major support on the downside is 1.3950.

 

[Deltastock]

July 19, 2011
Current level - 1.6116

The pair is in an uptrend after bottoming at 1.4226. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6090 and 1.5715.

Yesterday's dip below 1.6076 support area was short-lived and after bottoming at 1.6004 a new uptrend has began, aiming at 1.6195, en route to 1.6450. The intraday positive outlook is well supported at 1.6080 with a risk level at 1.6055.

 

[Deltastock]

July 20, 2011
Current level - 1.4174

EUR/USD is in a consolidation after the recent top at 1.4941 (May 4th, 2011). Technical indicators are descending and trading is situated between the 50- and 200-Day SMA, currently projected at 1.4311 and 1.3636.

Yesterday's swings below 1.4216 neutralized the positive outlook and the outlook on the lower frames is totally neutral. On the larger ones there is still a positive bias for a break through 1.4280, en route to 1.4370.

 

[Deltastock]

July 21, 2011
Current level - 78.77

The pair is in an uptrend from 76.67 low. Trading is situated below the 50- and 200-day SMA, currently projected at 82.25 and 83.95.

The outlook continues to be negative for a break below 78.50, towards 77.50. Major resistance on the upside remains 79.80-80.00.

 

[Deltastock]

July 22, 2011
Current level - 1.6306

The pair is in an uptrend after bottoming at 1.4226. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6090 and 1.5715.

Yesterday's rise filled my first target at 1.6260 and the overall bias remains positive for 1.6450. Initial support is projected at 1.6260, followed by the crucial area at 1.6190-6201.

 

[Deltastock]

July 29, 2011
Current level - 77.70

The pair is in a downtrend from the 94.96 high. We witnessed a new low at 77.65 after the minimum from March 16, 2011. Trading is situated below the 50- and 200-day SMA, currently projected at 80.14 and 81.85.

At this time there is no indication for tend reversal and remains bearish with the only and crucial support level remaining at 76.45.

 

[Deltastock]

August 1, 2011
Current level - 1.6447

The pair continues to trade above the 50- and 200-day SMA, currently projected at 1.6205 and 1.6070.

In case of a break of the resistance level at 1.6475 upcoming is a test of the 1.6540 resistance level. If that scenario is accomplished the way to 1.6740 will be the next direction.

A downward reversal is possible if the current bar closes below the 50 day SMA.

 

[Deltastock]

August 2, 2011
Current level - 1.4260

EUR/USD is in a consolidation after the recent top at 1.4941 (May 4th, 2011). Technical indicators on daily basis are ascending and trading is situated above the 200-Day SMA, and the daily trend line.

Trading takes place in a wide range and the daily levels of resistance are situated in the price zone of 1.4450, as well the support level is created by the 200 day SMA. In the case of a break trough the resistance level a new price target of 1.4700 will be eyed. Only a daily close below the 200-day SMA will be a strong signal that the daily up trend is over and will change our expectations for a test of 1.4550 and 1.4695 after that.

 

[Deltastock]

August 3, 2011
Current level - 77.19

The pair is in a clear downtrend after the top at 85.50. Trading is situated below the 50- and 200-day SMA, currently projected at 82.25 and 83.95.

USD/JPY tested the support at 76.45 yesterday but managed to close above that level. If a clear break occurs below that level we can expect the general downtrend to continue its course targeting 75.00 and then 74.00. Only a move above 81.46 (July 2011 high) would diminish the current bearish pressure on the pair. An intervention and/or some form of liquidity injection by the Central Bank of Japan will make the conclusions of the technical analysis above invalid.

 

[Deltastock]

August 4, 2011
Current level - 1.4340

EUR/USD is in consolidation after the recent top at 1.4941 (May 4th, 2011). Technical indicators on а daily basis are ascending and trading is situated above the 200-Day SMA, currently projected at 1.3935, and above the daily trend line.

After testing the support 1.4150, the trading level was transferred above 1.4300 and passing 1.4400, the currency pair targeting 1.4450 and 1.4580. In case of a break through the resistance level, a new price target of 1.4700 can be anticipated.

A daily close below the 200-day SMA will be a strong signal that the daily up trend is over which will change our expectations for a test of 1.4580 and 1.4700 afterwards.

 

[Deltastock]

August 5, 2011
Current level - 1.6278

GBP/USD continues to trade above the 50- and 200-day SMA, currently projected at 1.6205 and 1.6070 indicating moderate bullish pressure.

The pair found support at 1.6250. Only if that level is broken, we can expect a test of 1.6200 and 1.6170, targeting the six month low at 1.5780.

In case of a break of the resistance level at 1.6475 a test of the 1.6540 resistance level might be expected. Should this scenario be accomplished, the pair is anticipated to target 1.6740.

 

[Deltastock]

August 8, 2011
Current level - 1.6410

GBP/USD continues to trade above the 50- and 200-day SMA, currently projected at 1.6208 and 1.6084.

The pair found support at 1.6250 yesterday. In case of a break of that level we can expect a test of 1.6190 but the major barrier is 1.5779 (July 2011 low).

In case of a break of the resistance level at 1.6475 upcoming is a test of the 1.6540 resistance level. If that scenario is accomplished the way to 1.6740 will be the next direction.

 

[Deltastock]

August 9, 2011
Current level - 77.60

USD/JPY is in a clear downtrend after the top at 85.50. Trading is situated below the 50- and 200-day SMA, currently projected at 82.25 and 83.95.

If a clear break occurs below 76.45 we can expect the general downtrend to continue its course targeting 75.00 and then 74.00.

Only a move above 81.46 (July 2011 high) would diminish the current bearish pressure on the pair.

 

[berich]

August 9, 2011
Current level - 77.60

GBP/USD is in a clear downtrend after the top at 85.50. Trading is situated below the 50- and 200-day SMA, currently projected at 82.25 and 83.95.

If a clear break occurs below 76.45 we can expect the general downtrend to continue its course targeting 75.00 and then 74.00.

Only a move above 81.46 (July 2011 high) would diminish the current bearish pressure on the pair.

I think you meant to say USDJPY not GBPUSD. Please correct it.

 

[Deltastock]

August 10, 2011
Current level - 1.4360

EUR/USD is in consolidation after the recent top at 1.4941 (May 4th, 2011). Technical indicators on daily basis are ascending and trading is situated above the 200-Day SMA, and the daily trend line.

Trading takes place in a wide range and the daily levels of resistance are situated in the price zone of 1.4450, as well the support level is created by the 200 day SMA.

In case of a break through the resistance level a new price target of 1.4700 can be expected.

Only a daily close below the 200-day SMA will be a strong signal that the daily up trend is over and will change our expectations for a test of 1.4550 and 1.4695 after that.

 

[Deltastock]

August 11, 2011
Current level - 1.6170

GBP/USD continues to trade above the 50- and 200-day SMA, currently projected at 1.6208 and 1.6084.

The pair did not find support at 50 – day SMA and closed the day before below 1.6200. The price zone 1.6120 backed the cable and prevented a further downfall. If that level cannot hold longer pressure we can expect a further downward move to 1.5780.

In case of a break of the resistance level at 1.6200 upcoming is a test of the 1.6350 resistance level. If that scenario is accomplished the way to 1.6545 will be the next direction.

 

[Deltastock]

August 12, 2011
Current level - 76.90

USD/JPY is in a clear downtrend after the top at 85.50. Trading is situated below the 50- and 200-day SMA, currently projected at 79.33 and 81.63.

For the third time in a few days USD/JPY was able to break the 76.45 support level, but again it was only briefly. If a clear break occurs below that level we can expect the general downtrend to resume its course targeting 74.00 and then 73.00.

Only a move above 81.46 (July 2011 high) will pause the current pressure on the pair.

 

[Deltastock]

August 15, 2011
Current level - 1.6290

The trading of GBP/USD is situated above the 50- and 200-day SMA and the target is 1.6480.

In case of a break of the resistance level at 1.6480 upcoming is a test of the 1.6540 resistance level. If that scenario is accomplished the next target will be 1.6740.

The pair found support at 1.6100. In the case of another attempt to break that level, we expect the 200-day SMA to act as a support. It is currently projected at 1.6085.

 

[Deltastock]

August 16, 2011
Current level - 1.4438

EUR/USD is in a consolidation phase after the recent top at 1.4941 (May 4th, 2011). Technical indicators on a daily basis are ascending and trading is situated above the 200-day and the 50-day SMA.

The pair could not break below 1.4150 which brought trading consequently above1.4200, 1.4300 and 1.4400. Yesterday a test of 1.4450 followed. Trading is currently situated close to this level. If a break through the resistance of 1.4450 occurs, a new price target of 1.4700 is anticipated.

Only a daily close below the 200-day SMA will be a strong signal that the daily up trend is over, and that will change our expectations for a test of 1.4580 and 1.4700 afterward.

 

[Deltastock]

August 17, 2011
Current level - 76.69

It seems USD/JPY has calmed down lacking the volatility from last week, but it still continues to trade close the key low levels. We need to see a close below those levels, which would potentially open way to 74.50.

It is difficult to find any signs of a strong dollar against the yen, but getting back above the 78.30 area would signal for some recovery. Still, only after a break above the 50-day SMA, currently projected at 79.16, can we expect an uptrend move. A major resistance level is the July high of 81.46, which nearly coincides with the 200-day SMA, currently at 81.56.