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Currency Majors Technical Analysis

Wed, Mar 26 2008, 14:40 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,5738. EUR USD broke 1,5650 resistance. EUR USD is in an uptrend supported by 15min exponential moving averages. The volatility is high. Bollinger bands are deviated. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The uptrend should continue to gather momentum. The target is expected at 1,5900. The price should find a resistance below 1,5805.

Resistances

1,5750 - 1,5805

Supports

1,5705 - 1,5650

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9987. GBP USD broke 2,0000 support. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Oscillators are neutral. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

2,0000 - 2,0065

Supports

1,9935 - 1,9900

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

USD/CAD - US Dollar Canadian Dollar

1,0147. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0200 - 1,0230

Supports

1,0130 - 1,0100

more information on USD/CAD - US Dollar Canadian Dollar Click Here

USD/CHF - Dollar Swiss Franc

0,9982. USD CHF broke 1,0050 support. USD CHF is in a consolidation after the last bearish movement. The volatility is high. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The downtrend should continue on 0,9820 (160 pips) support.
=> We could take a short position at 0,9980. We will put the stop loss above 1,0020 (-40 pips). The targets are 0,9930 (+50 pips) 0,9820 (+160 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,0010 - 1,0055

Supports

0,9955 - 0,9930

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

USD/JPY - Dollar Yen

99,19. USD JPY broke 99,70 support. USD JPY is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 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 97,00.

Resistances

99,70 - 100,25

Supports

98,85 - 98,50

more information on USD/JPY - Dollar Yen Click Here

Published on  Wed, Mar 26 2008, 14:41 GMT

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Legal disclaimer and risk disclosure

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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