Deltastock Daily FX Analysis

[Deltastock]

November 11, 2009
Current level - 89.93

The expected reversal is already a fact, although it took place few pips above our target area at 89.17-88.83. Intraday bias is positive for 90.30, initial support comes at 89.67 and next target beyond 90.30 is 91.58.

 

[Deltastock]

November 12, 2009
Current level-1.4966

With the recent break below 1.4970 a top has been confirmed at 1.5049 and the pair entered a larger corrective phase towards 1.4915, en route to 1.4836. Intraday bias is negative for 1.4915 with a risk-limit above 1.5015.

 

[Deltastock]

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.

 

[Deltastock]

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.

 

[Deltastock]

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.

 

[Deltastock]

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.

 

[Deltastock]

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.

 

[Deltastock]

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.

 

[Deltastock]

November 25, 2009
Current level-1.5012

The minor consolidation pattern below 1.4999 ended at 1.4920 and the bias is positive for 1.5063, en route to 1.5130. Intraday support comes at 1.4999, followed by the crucial 1.4954.

 

[Deltastock]

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.

 

[Deltastock]

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.

 

[Deltastock]

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.

 

[Deltastock]

December 1, 2009
Current level- 1.6473

The pair couldn't break below 1.6380 and intraday bias is positive, well supported at 1.6460. On the 4h. chart we still favor the negative outlook for 1.6130 with a crucial level above 1.6730, but even a break above 1.66+ will transform the bias in neutral.

 

[Deltastock]

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.

 

[Deltastock]

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.