Forex Technical Analysis – Action Forex – ActionForex.com

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Daily Forex Technicals |

Written by DeltaStock Inc. |

Feb 07 14 11:16 GMT

Forex Technical Analysis

EUR/USD

Current level – 1.3558

The intraday bias is positive after the recent break through 1.3580 resistance, but the downtrend on the senior frames from 1.3893 is still intact, so I favor a slide through 1.3540 to initiate a downswing towards 1.3390.

Resistance
Support
intraday
intraweek
intraday
intraweek
1.3640
1.3740
1.3540
1.3395
1.3688
1.3893
1.3475
1.3290

Profit-taking affects gold curbing silver and platinum

USD/JPY

Current level – 101.94

Yesterday’s break through 101.70 resistance signals a positive intraday bias, but the outlook on the senior frames remains bearish, so I favor a break through 101.23 crucial level to trigger a sell-off towards 99.00 area. Initial intraday resistance is projected at 102.38, followed by 102.92.

Resistance
Support
intraday
intraweek
intraday
intraweek
102.38
104.82
101.70
100.60
102.92
105.40
100.80
99.00

GBP/USD

Current level – 1.6341

The outlook here remains positive, for a rise towards 1.6450. Crucial support on the downside lies at 1.6271 low.

Resistance
Support
intraday
intraweek
intraday
intraweek
1.6355
1.6667
1.6271
1.6220
1.6450
1.6750
1.6240
1.6130

About the Author

DeltaStock Inc. – Online Forex & Securities Broker

RISK DISCLAIMER: These analyses are for information purposes only. They DO NOT post a BUY or SELL recommendation for any of the financial instruments herein analyzed. The information is obtained from generally accessible data sources. The forecasts made are based on technical analysis. However, Delta Stock’s Analyst Dept. also takes into consideration a number of fundamental and macroeconomic factors, which we believe impact the price moves of the observed instruments. Delta Stock Inc. assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person’s reliance upon the information on this page. Delta Stock Inc. shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses or unrealized gains that may result. Any information is subject to change without notice.

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