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Currency Majors Technical Analysis

Thu, Mar 27 2008, 13:45 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,5792. 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 is low. Bollinger bands are flat. 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 find a support above 1,5725. The uptrend should continue to gather momentum. The target is expected at 1,5900.

Resistances

1,5820 - 1,5925

Supports

1,5725 - 1,5700

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

2,0166. GBP USD is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP USD. The uptrend should continue to gather momentum. The target is expected at 2,0300.

Resistances

2,0200 - 2,0300

Supports

2,0135 - 2,0100

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

USD/CAD - US Dollar Canadian Dollar

1,0189. There is an horizontal range between 1,0130 and 1,0210. Support and resistance are given by Bollinger bands. USD CAD 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. The risk/reward ratio is too high to take a position..

Resistances

1,0230 - 1,0275

Supports

1,0160 - 1,0130

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

USD/CHF - Dollar Swiss Franc

0,9948. USD CHF is in a consolidation after the last bearish movement. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The price should find a resistance below 0,9980. The downtrend should continue on 0,9800 (150 pips) support.

Resistances

0,9980 - 1,0060

Supports

0,9920 - 0,9890

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

USD/JPY - Dollar Yen

99,90. USD JPY is in a range between 98,60 and 100,90. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility rises. Bollinger bands are deviated. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 0,9860 / 100,90 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

100,20 - 100,90

Supports

99,40 - 98,65

more information on USD/JPY - Dollar Yen Click Here

Published on  Thu, Mar 27 2008, 13:46 GMT

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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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