Forex Technical Analysis

10/13/2014 9:00 am EST

Focus: CURRENCIES

On last Friday, the staff at DeltaStock.com provided forex technical analysis for three currency pairs from the day prior, including the current levels of support and resistance.

Forex Technical Analysis

EUR/USD

Current level—1.2680

Last Thursday's rise to 1.2791 was the first test of 1.2820 resistance area and the reversal at that level marks the completion of the upswing from 1.2500. The intraday bias is already negative, for a slide towards 1.2570 major support, before another rebound for one more test of 1.2820 area.

            Resistance                   Support
intraday          intraweek       intraday          intraweek
1.2715            1.2791            1.2820            1.2995
1.2661            1.2570            1.2500            1.2040.

chart
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USD/JPY

Current level—107.93

Current rebound above 107.50 should be considered corrective in nature, preceding new slide towards 106.70. Initial intraday resistance is projected at 108.33, followed by the crucial one at 108.72.

            Resistance                  Support
intraday          intraweek       intraday          intraweek
108.33            108.72            110.08            116.60
107.40            105.70            107.40            105.70

chart
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GBP/USD

Current level—1.6089

The intraday bias is negative after the recent reversal at 1.6225, targeting 1.6030 support zone. The latter should provoke another reversal, for an upswing towards 1.6280. Intraday resistance lies at 1.6135.

            Resistance                  Support
intraday          intraweek       intraday          intraweek
1.6135            1.6225            1.6280            1.6530
1.6030            1.5950            1.5950            1.5840

chart
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By the Staff at DeltaStock.com

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