| by Stoyan Mihaylov www.deltastock.com
July 20, 2009
Current level-1.4182
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 1.3064 and 1.3524.
The
bias here remained positive and the pair is in a clear uptrend, well
supported at 1.4145 and 1.4055 on the 4h chart. A break below 1.4092 is
needed to confirm, that a top is in place and while the pair holds
above 1.4145, the outlook remains bullish.
Key Market Levels
| 1.4201 | 1.4337 | 1.4338 | 1.4720 |
| 1.4145 | 1.4092 | 1.3830 | 1.3425 |
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Current level - 94.65
A
short-term bottom has been set at 87.12 and a large consolidation is
unfolding since. Trading is situated below the 50- and 200-day SMA,
currently projected at 98.13 and 97.75.
The pair was unable to
hold below 94.09 resistance and currently the focus is set on 94.88
again. If that level remains intact, we will expect a slide towards
93.20, en route to 91.72.
Key Market Levels
| 94.88 | 95.52 | 99.74 | 101.42 |
| 93.21 | 91.67 | 89.60 | 87.12 |
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Current level- 1.6466
The
pair is in an downtrend, after peaking at 1.6746. Trading is situated
above the 50- and 200-day SMA, currently projected at 1.4778 and 1.5510.
Today's
break above 1.6415 neutralized the bearish outlook and the pair is in a
clear uptrend for 1.6547, well supported above 1.6460. We still expect
a reversal around current levels, but in fact there are no signs of
changing the direction yet and a break below 1.6375 will be the first
sign, that a top is in place. Meanwhile, the bias remains positive with
current support around 1.6460 and with critical level below 1.6374.
Key Market Levels
| 1.6547 | 1.6663 | 1.6746 | 1.70+ |
| 1.6460 | 1.6375 | 1.5778 | 1.5352 |
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