Thu, 13 Jan 2011 11:36:40 +0100

Deltastock Daily Fx Analysis

January 13, 2011
Current level - 1.3150

EUR/USD is in a downtrend, 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 continues to be positive after the recent break above 1.3080 and the pair is currently testing the dynamic projection around 1.3160. We still think, that the rebound above 1.2870 is corrective in nature and expect a reversal to set the beginning of a slide towards 1.2647. Important resistance on the upside is 1.3250.

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Deltastock Daily Fx Analysis

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