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Currency Majors Technical Analysis

Wed, Nov 7 2007, 21:53 GMT

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Asian Session

AUD/USD - Australian Dollar US Dollar

0,9273. AUD USD broke 0,9350 support. AUD USD is in an uptrend supported by 4H exponential moving averages. The volatility rises. Bollinger bands are deviated. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on AUD USD. 4H ForexSto (Modified Stochastic) crosses and gives a negative signal. The price should continue to consolidate. The price should find a support above 0,9220 (50 pips). We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

0,9300 - 0,9360

Supports

0,9250 - 0,9220

more information on AUD/USD - Australian Dollar US Dollar Click Here

EUR/USD - Euro Dollar

1,4641. EUR USD is in an uptrend supported by 1H exponential moving averages. EUR USD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should continue to consolidate. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,4680 - 1,4730

Supports

1,4620 - 1,4550

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

2,1022. GBP USD is in an uptrend supported by 1H exponential moving averages. GBP USD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The price should continue to consolidate. The price should continue to move in 2,0910 / 2,1050 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

2,1050 - 2,1075

Supports

2,0980 - 2,0910

more information on GBP/USD - British Pound Dollar Click Here

GBP/JPY - British Pound Yen

237,10. GBP JPY is in a range between 237,00 and 240,50. GBP JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The price is just above 237,00 support. The volatility is high. Bollinger bands are parallel and form the trend. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP JPY. The price should find a support above 237,00. If the support is broken then the target will be 235,00 (200 pips). We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

237,60 - 238,50

Supports

237,00 - 236,60

more information on GBP/JPY - British Pound Yen Click Here

USD/JPY - Dollar Yen

112,80. USD JPY is in an downtrend directed by 1H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The downtrend should continue to gather momentum. The target is expected at 111,50.
=> We could take a short position at 112,90. We will put the stop loss above 113,25 (-35 pips). The targets are 112,00 (+90 pips) 111,50 (+140 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

114,10 - 114,40

Supports

113,80 - 113,20

more information on USD/JPY - Dollar Yen Click Here

Published on  Wed, Nov 7 2007, 21:56 GMT

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