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Currency Majors Technical Analysis

Tue, Nov 20 2007, 05:48 GMT

Mataf.net  |  View company's profile


Mataf.net

More technical analysis about: EUR/USD, USD/CHF, USD/JPY, GBP/USD, AUD/USD, USD/CAD, EUR/CHF, EUR/JPY, EUR/GBP, EUR/AUD, EUR/CAD

European Session

EUR/USD - Euro Dollar

1,4672. EUR USD is in a triangle pattern. EUR USD is in an uptrend supported by 4H exponential moving averages. EUR USD is in a consolidation after the last bullish movement. The volatility is low. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,4680. If the resistance is broken then the target will be 1,4800 (120 pips) - 1,4900 (220 pips).

Resistances

1,4680 - 1,4700 - 1,4750

Supports

1,4640 - 1,4590

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

2,0510. GBP USD is in a consolidation after the last bearish movement. GBP USD is in a range between 2,0375 and 2,0565. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

2,0565 - 1,0650

Supports

2,0450 - 2,0375

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

USD/CHF - Dollar Swiss Franc

1,1169. USD CHF is in an downtrend directed by 1H exponential moving averages. The volatility is low. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The downtrend should continue to gather momentum.
=> We could take a short position at 1,1170. We will put the stop loss above 1,1210 (-40 pips). The targets are 1,1110 (+60 pips) 1,1030 (+140 pips) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances

1,1175 - 1,1195

Supports

1,1150 - 1,1130

more information on USD/CHF - Dollar Swiss Franc Click Here

USD/JPY - Dollar Yen

110,13. USD JPY is in an downtrend directed by 4H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility decreases. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum. The price should find a support above 109,50. If the support is broken then the target will be 108,80.
=> We could take a short position at 110,20. We will put the stop loss above 110,70 (-50 pips). The targets are 109,20 (+100 pips) 108,80 (+140 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

110,30 - 110,50

Supports

109,60 - 109,20

more information on USD/JPY - Dollar Yen Click Here

EUR/CAD - Euro Canadian Dollar

1,4407. EUR CAD is in an uptrend supported by 1H exponential moving averages. The price is just bellow 1,4450 resistance. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR CAD. The price should find a resistance below 1,4450. If the resistance is broken then the target will be 1,4600 (200 pips).

Resistances

1,4450 - 1,4500

Supports

1,4360 - 1,4230

more information on EUR/CAD - Euro Canadian Dollar Click Here


Archive


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All Technical Analysis and resulting conclusions and observations are based upon historical chart formations and patterns. Therefore, observations are a function of each analyst’s interpretation of the charts. What has happened 75% of the times in the past per a particular chart pattern does not mean it will always recur in the future. It logically follows that historical precedent does not guarantee future results. Conclusions expressed in the technical analysis section are personal opinions of the analysts; and may not be construed as recommendations to buy or sell anything.
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