Deltastock Daily FX Analysis
- Thread starter Deltastock
- Start date
November 16, 2009
Current level-1.4982
The bottoming process at 1.4821 ended with a "double bottom" reversal pattern and the pair broke above 1.4901, reaching a temporary high at 1.4993. Although one more intraday swing to 1.4892 is to be expected, the overall bias is positive for 1.5050, en route to 1.5280 major resistance area.
Current level-1.4982
The bottoming process at 1.4821 ended with a "double bottom" reversal pattern and the pair broke above 1.4901, reaching a temporary high at 1.4993. Although one more intraday swing to 1.4892 is to be expected, the overall bias is positive for 1.5050, en route to 1.5280 major resistance area.
November 17, 2009
Current level-1.4929
Yesterday's peak at 1.4994 marked a minor reversal and a sell-off followed, bottoming at 1.4881. Current intraday bias is negative with a crucial level at 1.4974 and we expect this slide to be the last wave of the consolidation pattern below 1.5050, before advancing towards 1.5130. As there is no important support in EUR/USD on the lower frames, watch out for 0.8830 zone in EUR/GBP, as it is expected to provide a reliable support for the next leg upwards.
Current level-1.4929
Yesterday's peak at 1.4994 marked a minor reversal and a sell-off followed, bottoming at 1.4881. Current intraday bias is negative with a crucial level at 1.4974 and we expect this slide to be the last wave of the consolidation pattern below 1.5050, before advancing towards 1.5130. As there is no important support in EUR/USD on the lower frames, watch out for 0.8830 zone in EUR/GBP, as it is expected to provide a reliable support for the next leg upwards.
November 18, 2009
Current level- 1.6801
The pair is in a downtrend after peaking at 1.7042. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.
A minor top is set at 1.6877 and current corrective slide is testing 1.6752 support before next leg upwards, to 1.6957. The GBP is well supported at 0.8913 in EUR/GBP.
Current level- 1.6801
The pair is in a downtrend after peaking at 1.7042. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.
A minor top is set at 1.6877 and current corrective slide is testing 1.6752 support before next leg upwards, to 1.6957. The GBP is well supported at 0.8913 in EUR/GBP.
November 19, 2009
Current level- 1.6654
The drowning from 1.6840 is deeper than expected, but while the pair holds above 1.6627 support there is a chance for reversal, that should set the beginning of the final leg upwards, to 1.6953. Only a break below 1.6515 will confirm, that important top is already in place, at 1.6877. Intraday bias is negative with a resistance at 1.6684 and crucial level at 1.6724.
Current level- 1.6654
The drowning from 1.6840 is deeper than expected, but while the pair holds above 1.6627 support there is a chance for reversal, that should set the beginning of the final leg upwards, to 1.6953. Only a break below 1.6515 will confirm, that important top is already in place, at 1.6877. Intraday bias is negative with a resistance at 1.6684 and crucial level at 1.6724.
November 20, 2009
Current level-1.4901
The overall bias here is neutral with a slightly bearish pressure while the 1.4796 support is still on test. Intraday resistance comes at 1.4972 and is likely to be tested before the beginning of the U.S. trading session, but only a clear break above 1.5015 will set the focus back on new highs, beyond 1.5063.
Current level-1.4901
The overall bias here is neutral with a slightly bearish pressure while the 1.4796 support is still on test. Intraday resistance comes at 1.4972 and is likely to be tested before the beginning of the U.S. trading session, but only a clear break above 1.5015 will set the focus back on new highs, beyond 1.5063.
November 23, 2009
Current level-1.4975
Last week's test of 1.4796 support failed and this time a bottom has been confirmed at 1.4801, that should start the expected upmove for new highs beyond 1.5063. Intraday bias is positive for a break through 1.4990, en route to 1.5063 with an initial support at 1.4947.
Current level-1.4975
Last week's test of 1.4796 support failed and this time a bottom has been confirmed at 1.4801, that should start the expected upmove for new highs beyond 1.5063. Intraday bias is positive for a break through 1.4990, en route to 1.5063 with an initial support at 1.4947.
November 26, 2009
Current level- 1.6540
As expected, the pair reversed its direction at 1.6746 and with the break below 1.6649 support it is confirmed, that a top is in place and the negative bias is renewed towards 1.6250 and 1.6130. Current downtrend is expected to enter a minor consolidation above 1.6495 support, before breaking below, towards 1.6250 support. Important resistance on the upside is 1.6649.
Current level- 1.6540
As expected, the pair reversed its direction at 1.6746 and with the break below 1.6649 support it is confirmed, that a top is in place and the negative bias is renewed towards 1.6250 and 1.6130. Current downtrend is expected to enter a minor consolidation above 1.6495 support, before breaking below, towards 1.6250 support. Important resistance on the upside is 1.6649.
November 27, 2009
Current level-1.4846
Yesterday's break below 1.5020 and especially today's below 1.4920 signal a reversal at 1.5146, that jeopardizes the important support at 1.4801. A break below that level will state that a major top is in place and will target 1.4623, en route to 1.4550. Intraday bias is negative for 1.4801 and a minor consolidation can be expected above the mentioned support, before breaking through the 50-day SMA, towards 1.4623. Intraday resistance is 1.4900 and crucial is 1.5010-20 area.
Current level-1.4846
Yesterday's break below 1.5020 and especially today's below 1.4920 signal a reversal at 1.5146, that jeopardizes the important support at 1.4801. A break below that level will state that a major top is in place and will target 1.4623, en route to 1.4550. Intraday bias is negative for 1.4801 and a minor consolidation can be expected above the mentioned support, before breaking through the 50-day SMA, towards 1.4623. Intraday resistance is 1.4900 and crucial is 1.5010-20 area.
November 30, 2009
Current level - 85.92
The overall downtrend has been renewed with the recent break below 87.12. Trading is situated below the 50- and 200-day SMA, currently projected at 94.86 and 94.84.
The pair is testing 87.12 resistance and we expect that test to fail and the downtrend to be renewed towards 83.45, en route to 81.63. Intraday bias is negative, while the pair holds below 86.50 resistance.
Current level - 85.92
The overall downtrend has been renewed with the recent break below 87.12. Trading is situated below the 50- and 200-day SMA, currently projected at 94.86 and 94.84.
The pair is testing 87.12 resistance and we expect that test to fail and the downtrend to be renewed towards 83.45, en route to 81.63. Intraday bias is negative, while the pair holds below 86.50 resistance.
December 2, 2009
Current level- 1.6581
The pair is in a downtrend after peaking at 1.7042. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.
Yesterday's break above 1.6596 has transformed the bearish outlook in bullish and currently the pair consolidates below 1.6646 dynamic resistance which is expected to give way for next leg upwards, to 1.6744.
Current level- 1.6581
The pair is in a downtrend after peaking at 1.7042. Trading is situated above the 50- and 200-day SMA, currently projected at 1.6454 and 1.5258.
Yesterday's break above 1.6596 has transformed the bearish outlook in bullish and currently the pair consolidates below 1.6646 dynamic resistance which is expected to give way for next leg upwards, to 1.6744.
Current level - 87.72
The test of the 88.01 resistance is still on the run and we continue to expect a reversal around these levels, due to the negative bias on the larger frames. Unfortunately there are still no signs of a reversal and the pair is well supported at 87.40 with a crucial level at 86.50. Beyond 88.01 resistance next important area is 88.75.
The test of the 88.01 resistance is still on the run and we continue to expect a reversal around these levels, due to the negative bias on the larger frames. Unfortunately there are still no signs of a reversal and the pair is well supported at 87.40 with a crucial level at 86.50. Beyond 88.01 resistance next important area is 88.75.