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Currency Majors Technical Analysis

Thu, Apr 26 2007, 06:07 GMT

Mataf.net

EURUSD

Short term (Intraday)

1,3652. EUR USD broke 1,3630 resistance. EUR USD is in an uptrend supported by 1H exponential moving averages. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. 4H ForexSto (Modified Stochastic) crosses and gives a negative signal. The uptrend should continue on 1,3750 resistance.
=> We could take a long position at 1,3645. We will put the stop loss below 1,3615 (-30 pips). The targets are 1,3690 (+45 pips) 1,3750 (+105 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,3660 - 1,3690

Supports

1,3630 - 1,3620

Long term chart

EUR/USD - Euro Dollar- Click Here

USDCHF

Short term (Intraday)

1,2043. USD CHF is in a range between 1,2010 and 1,2100. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum. The price should find a resistance below 1,2060.
=> We could take a short position at 1,2050. We will put the stop loss above 1,2070 (-20 pips). The targets are 1,2010 (+40 pips) 1,1970 (+80 pips) 1,1900 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,2050 - 1,2060

Supports

1,2035 - 1,2010

Long term chart

USD/CHF - Dollar Swiss Franc- Click Here

USDJPY

Short term (Intraday)

118,70. USD JPY is in a range between 118,25 and 119,00. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

118,75 - 119,00

Supports

118,55 - 118,25

Long term chart

USD/JPY - Dollar Yen- Click Here

GBPUSD

Short term (Intraday)

2,0057. GBP USD is in an uptrend supported by 4H exponential moving averages. GBP USD is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP USD. The uptrend should continue to gather momentum. The price should find a resistance below 2,0060. If the resistance is broken then the target will be 2,0200 (150 pips). We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

2,0060 - 2,0090

Supports

2,0030 - 2,0010

Long term chart

GBP/USD - British Pound Dollar- Click Here

EURGBP

Short term (Intraday)

0,6808. EUR GBP is in a range between 0,6760 and 0,6830. EUR GBP moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR GBP. The price should continue to consolidate. The price should find a support above 0,6800.
[arbitrage EUR USD/ GBP USD] : We expect similar moves on EUR USD and GBP USD..

Resistances

0,6810 - 0,6820

Supports

0,6800 - 0,6790

Long term chart

EUR/GBP - Euro British Pound- Click Here

Published on  Thu, Apr 26 2007, 06:07 GMT