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FOREX TECHNICAL ANALYSIS

2011-01-12 12:09:13

January 12, 2011
Current level - 1.3030
EUR/USD is in a downfall, after peaking at 1.4283 (November 11, 2010). Technical indicators are descending, and trading is situated below the 50- and 200-Day SMA, currently projected at 1.3336 and 1.3067.

The intraday bias is positive for a tight test of 1.3080-90 resistance area and a reversal is to be expected for the next leg downwards, to 1.2730, en route to 1.2647. Initial minor support is projected at 1.3015, followed by the crucial 1.2904.

 

January 12, 2011
Current level - 83.14
The pair is in a downtrend from 94.96 high. Trading is situated below the 50- and 200-day SMA, currently projected at 83.08 and 88.37.

Still in the consolidation pattern below 83.68 and the overall bias remains bullish for 84.51 with an important support at 82.30.
January 12, 2011
Current level - 1.5657
The pair is in an uptrend after bottoming at 1.4226. Trading is situated above the 50- and 200-day SMA, currently projected at 1.5707 and 1.5323.

The overall bias continues to be positive for 1.5744, route to 1.5910. Initial support is seen at 1.5595 and crucial on the downside is 1.5513.