Deltastock Daily FX Analysis

Deltastock

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Aug 17, 2009
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#1
August 17, 2009
Current level-1.4124


EUR/USD is in a broad consolidation, after bottoming at 1.2331 (Oct.28,2008). Technical indicators are neutral, and trading is situated above the 50- and 200-Day SMA, currently projected at 1.4037 and 1.3372.

As expected, the test of 1.4310-4330 resistance failed and the pair is in a downtrend for a break below 1.4096, en route to 1.3830 and 1.3746 major support zone. Intraday bias is negative with nearest resistance around 1.4164.



 

Deltastock

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Aug 17, 2009
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#2
August 18, 2009

August 18, 2009
Current level- 1.6381


A minor consolidation unfolds above 1.6275, aiming at 1.6428 resistance. Although current intraday bias is positive for 1.6428, we will expect later today a downtrend to emerge, targeting 1.6215 dynamic support, en route to 1.5980. The trigger will be 1.6323 minor support.



 

Deltastock

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Aug 17, 2009
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#3
August 19, 2009
Current level-1.4102


The brief consolidation above 1.4045 is already complete and we are expecting a break below 1.4070 to trigger a massive sell-off towards 1.3830, en route to 1.3746. The pair is in extremely bearish condition on the 1h. chart, so a downtrend for 1.3830 seems inevitable.



 

Deltastock

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#4
August 20, 2009
Current level- 1.6564


With yesterday's reversal at 1.6372 the pair is in an uptrend towards 1.6663, en route to 1.6752. Nearest support comes at 1.6475 and the bias on the 1h. and 4h. charts is neutral.



 

Deltastock

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Aug 17, 2009
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#5
August 21, 2009
Current level-1.4283


Yesterday's consolidation was limited above 1.4172 support and the uptrend is expected to continue towards 1.4330-50 resistance.


 

Deltastock

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Aug 17, 2009
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#6
August 24, 2009
Current level-1.4316


A minor downtrend unfolds from last week's high at 1.4378 and the pair is currently testing 1.4267 support zone. We favor the idea, that a break below that level will aim directly at 1.4167, en route to 1.4006. Crucial on the upside is 1.4340.


 

Deltastock

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Aug 17, 2009
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#7
August 25, 2009
Current level- 1.6375


Current bias remains negative for 1.6270 and 1.6030. Crucial on the upside is 1.6430, as if we see a break above that level it will signal, that the corrective phase above 1.6273 is not over yet.


 

Deltastock

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Aug 17, 2009
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#9
August 27, 2009
Current level-1.4236


Yesterday's test of 1.4350 resistance provoked a sharp sell-off to 1.4209 support zone. Current rebound is corrective in nature and we expect it to be limited below 1.4280 before next leg downwards, to 1.4123.


 

Deltastock

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Aug 17, 2009
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#10
August 31, 2009
Current level- 1.6202


Last week's rebound above 1.6150 was limited below 1.6380 and the pair renewed its downtrend for 1.5980. Intraday resistance comes at 1.6230, and crucial is 1.6298.


 

Deltastock

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#11
September 1, 2009
Current level- 1.6340


We continue to believe, that current rebound above 1.6150 is corrective in nature, thus precedes next leg downwards, to 1.5980. Intraday bias is still positive and a break below 1.6254 is needed to confirm, that a top is in place. Important resistance on the 4 h. chart is 1.6430-50.


 

Deltastock

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Aug 17, 2009
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#12
September 2, 2009
Current level-1.4224


Yesterday's break below 1.4320 confirmed, that a minor top is in place at 1.4378 and a sharp sell-off followed, bottoming at 1.4176. Current rebound is corrective and we expect it to be limited below 1.4280 resistance zone, before next slide towards 1.4110. Intraday bias is positive with a risk limit below 1.4204.


 

Deltastock

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Aug 17, 2009
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#13
September 3, 2009
Current level- 1.6318


Current rebound above 1.6111 is impulsive in nature and we rather prefer the idea, that a significant bottom is already in place. Intraday bias is positive for 1.6382 major resistance with a risk limit below 1.6235. We expect a break above 1.6382 to target directly 1.6663.


 

Deltastock

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Aug 17, 2009
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#14
September 4, 2009
Current level-1.4275


Yesterday's peak at 1.4348 completed the rise from 1.4177, so the pair is again in ranging mode in the 1.4310-4207 area. A break above 1.4348 will renew the overall uptrend for 1.4444, en route to 1.4650.

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Deltastock

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Aug 17, 2009
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#15
September 8, 2009
Current level-1.4396


Yesterday's brief consolidation is already over and the pair renewed its uptrend for 1.4444, en route to 1.4560. Intraday support comes at 1.4363 and crucial is 1.4326.