Major Currency Pairs: EUR/USD USD/JPY GBP/USD : April 22, 2014
Deltastock | Apr 22, 2014 06:24AM ET
EUR/USD
Current level - 1.3794
Last week's reversal at 1.3863 signals, that the consolidation pattern after 1.3904 high is still underway and the intraday bias is negative below 1.3804 minor resistance, with a crucial level at 1.3830. My outlook is counter-trend, for a break through 1.3830, en route to 1.3904. Initial support lies at 1.3780, followed by the major one around 1.3750.
USD/JPY
Current level - 102.58
The bias is still positive after 101.85 low and the pair is currently testing 102.70 major resistance. I favor a reversal for a break through 102.36 intraday support, en route to 101.30 major hurdle.
GBP/USD
Current level - 1.6792
Current downswing below 1.6841 high should be considered corrective in nature, preceding next leg upwards, to 1.6890. Initial minor support lies at 1.6780, followed by the crucial area around 1.6750.
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