Deltastock Daily FX Analysis

[Deltastock]

August 18, 2011
Current level - 1.6509

The British pound made a strong push against the weak dollar by breaking the highest level since the end of May and closing just below that level.

Although a short correction is possible after the recent rally, we expect another break above the 1.6550 resistance, which would open way towards the April highs at 1.6745.

Holding above 1.6250 affirmed the support level. In case of a move below, we expect the 200-day SMA, which is currently projected close to 1.6100, to act as the next support. In the longer-run 1.6000 remains as the key threshold for the pair.

 

[Deltastock]

August 19, 2011
Current level - 1.6486

The British pound took advantage of the dollar weakness rising close to this month’s high at 1.6477 but could not break the level, so that we can expect further resistance at that price. Although GBP/USD is being traded in a range for the last couple of weeks, now the pair is situated well above the 50-day SMA, projected at 1.6204.

There seems to be a short-term support at 1.6250, so going back below that level is likely to trigger further losses for the pound. The 200-day SMA is currently projected close to 1.6095 and we expect to see support there as well, but in the longer-run 1.6000 remains as the key threshold for the pair.

Today we can expect a test of the trend line and the resistance zone at 1.6590 and if the pound is not able to stay above that line it will test the 1.6420 and 1.6350 zone.

 

[Deltastock]

August 22, 2011
Current level - 1.4372

Due to the low liquidity, typical for August, the pair is still in the broad consolidation pattern between 1.4580 and 1.4050. On the larger frames there is still no sign of a trend dynamics and the situation remains neutral until big players roll in.

Current rise from 1.4260 low is absolutely intact and with the reliable intraday static support at 1.4344 the bias is positive for a break beyond 1.4394, towards 1.4510. The resistance area around 1.4550-4580 is likely to continue to hold for a reversal towards 1.4260.

 

[Deltastock]

August 23, 2011
Current level - 1.6549

The pair is in an uptrend from 1.4222 low, targeting 1.70+ resistance area. Technical indicators are rising and trading is situated above the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.

Yesterday's test of 1.6420 support failed and the pair is attempting a final upswing for 1.6600 before reversal and a beginning of a slide towards 1.6320. On the larger frames the outlook remains neutral in the 1.6616-6250 range. Initial intraday support is projected at 1.6520.

 

[Deltastock]

August 24, 2011
Current level - 76.57

The overall downtrend continues to be intact, aiming at new historical lows below 75.95. Technical indicators are still descending and crucial resistance on the daily frame is 80.20.

Current intraday bias is negative for 76.10-20 before reversal and short-squeeze towards 77.20 static resistance. Crucial on the downside is current local low at 75.95.

 

[Deltastock]

August 25, 2011
Current level - 1.4467

Due to the low liquidity, typical for August, the pair is still in the broad consolidation pattern between 1.4580 and 1.4050. On the larger frames there is still no sign of a trend dynamics and the situation remains neutral until big players roll in.

Yesterday's minor sell-off from 1.4482 failed to break below 1.4375 support area and the bias remains positive for a possible test at 1.4510. The outlook on the larger frames continues to signal a reversal below 1.4580 for 1.4260 and 1.4150.

 

[Deltastock]

August 26, 2011
Current level - 1.4429

Due to the low liquidity, typical for August, the pair is still in the broad consolidation pattern between 1.4580 and 1.4050. On the larger frames there is still no sign of a trend dynamics and the situation remains neutral until big players roll in.

Yesterday's break below 1.4390 crucial area cleared the way for a slide to 1.4327 low and although current rebound is larger than usual, my outlook is rather negative, for one more sell-off towards 1.4260. The intraday bias is positive with an initial support at 1.4418 and crucial area at 1.4390.

 

[Deltastock]

August 29, 2011
Current level - 1.4518

As we are approaching the beginning of September, heavier volumes are executed on the market an the pair will try to escape from last month's broad range below 1.4580. Trend dynamics is expected to emerge this week, and the focus will be set at 1.4690 and 1.4940 resistance areas.

With the second, unsuccessful test of 1.4325 a new uptrend has began, for a break beyond 1.4580 resistance zone. Current outlook is positive, with an initial minor support at 1.4500 and crucial level on the minute frames at 1.4466. Targets are projected at 1.4580 and 1.4690. On the larger time-frames only a pullback below 1.4325 will signal, that the range is still on track.

 

[Deltastock]

August 30, 2011
Current level - 1.4441

As we are approaching the beginning of September, heavier volumes are executed on the market an the pair will try to escape from last month's broad range below 1.4580. Trend dynamics is expected to emerge this week, and the focus will be set at 1.4690 and 1.4940 resistance areas.

A reversal has been confirmed at 1.4550 and current outlook is negative, for 1.4327, en route to 1.4260. Major resistance is projected at 1.4470. Current sell-off signals, that the broad range below 1.4580 on the mid frames is still underway.

 

[Deltastock]

August 31, 2011
Current level - 1.6315

The pair is in an uptrend from 1.4222 low, targeting 1.70+ resistance area. Technical indicators are rising and trading is situated above the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.

Yesterday's sell-off bottomed at 1.6255 and current rebound is corrective in nature, preceding next slide towards 1.6205, en route to 1.6110. Key resistance on the upside is 1.6340, followed by the major one at 1.6444.

 

[Deltastock]

September 1, 2011
Current level - 1.4299

As we are approaching the beginning of September, heavier volumes are executed on the market an the pair will try to escape from last month's broad range below 1.4580. Trend dynamics is expected to emerge this week, and the focus will be set at 1.4690 and 1.4940 resistance areas.

The downtrend from 1.4550 is intact, targeting 1.4260 reversal area. Initial intraday resistance is projected at 1.4330, followed by the crucial area at 1.4390.

 

[leerees]

Only read the last few posts but all of them have been spot on

 

[Deltastock]

Thank you, leerees, for your kind words.

Best Regards
Stoyan

 

[Deltastock]

September 2, 2011
Current level - 1.4233

As we are approaching the beginning of September, heavier volumes are executed on the market an the pair will try to escape from last month's broad range below 1.4580. Trend dynamics is expected to emerge this week, and the focus will be set at 1.4690 and 1.4940 resistance areas.

Although the downtrend from 1.4550 is still intact, I favor a reversal around current levels for 1.4470, en route to 1.4550. Crucial resistance on the upside is 1.4288.

 

[Deltastock]

September 7, 2011
Current level - 1.4082

The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.

Although yesterday's rebound was a massive one and peaked at 1.4282, the overall outlook remains bearish and the downtrend from 1.4550 is still intact, targeting 1.3840. Crucial on the upside is 1.4282 high, as a violation of that level will state, that a bottom is in place.

 

[Deltastock]

September 8, 2011
Current level - 1.5932

The pair is in an uptrend from 1.4222 low, targeting 1.70+ resistance area. Technical indicators are rising and trading is situated above the 50- and 200-day SMA, currently projected at 1.6209 and 1.6098.

The negative outlook for 1.5780 remains unchanged and crucial resistance on the upside is 1.6064. Initial minor support is projected at 1.5877.

 

[Deltastock]

September 9, 2011
Current level - 1.3861

The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.

The downtrend is still intact, heading for a break through 1.3840 low, towards 1.3705 minor support. Initial intraday resistance is projected at 1.3940 and crucial on the upside is 1.4082.

 

[Deltastock]

September 12, 2011
Current level - 1.3597

The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.

The impulsive sell-off from 1.4082 broke below previous minimum at 1.3838 and bottomed few pips above the major support area around 1.3440. I believe, that current low at 1.3495 sets the beginning of a larger rebound towards 1.3721, en route to 1.3840 resistance zone. The intraday bias is positive for 1.3721 with a crucial level at 1.3534.

 

[Deltastock]

September 13, 2011
Current level - 1.3609

The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated between the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.

The corrective rebound above 1.3490 is still capped below 1.3720 resistance, but further appreciation is to be expected later today, for 1.3840 major res. area. Minor intraday support is projected at 1.3555.

 

[Deltastock]

September 14, 2011
Current level - 1.3664

The pair is in a broad consolidation pattern below 1.4580 resistance area and current sell-off from 1.4550 is expected to be the final slide to complete that pattern. Technical indicators on the larger frames are neutral and trading is situated below the 50 and 200 daily SMAs, currently projected at 1.4301 and 1.4020.

The corrective rebound above 1.3490 is loosing strength and is probably close to completion, which will clear the road for a sell-off towards 1.3240 and 1.2870. The intraday bias is still positive, but a break below 1.3555 support will set the focus at 1.3240. Major resistance on the upside remains 1.3840-60.