by Wed, 25 Feb 2009 09:14:23 +0100
Deltastock Daily Fx Analysis
February 25, 2009
Current level - 96.95
A short-term bottom has been set at 87.12 and a large consolidation is unfolding since. Trading is situated between the 50- and 200-day SMA, currently projected at 90.78 and 100.29.
Our target at 97.48, set after the break above 94.64, was almost filled with recent high at 97.33, so we favor a reverse around current levels, aiming at 94.64. Crucial for the current uptrend from 92.62 is 96.38, so this level will be also confirmative for a corrective phase towards 94.64.
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