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Currency Majors Technical Analysis
Mon, May 5 2008, 12:51 GMT
American Session
EUR/USD - Euro Dollar
1,5468. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,5500. The downtrend should continue to gather momentum.
=> We could take a short position at 1,5480. We will put the stop loss above 1,5530 (-50 pips). The targets are 1,5400 (+80 pips) 1,5300 (+180 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
Resistances
1,5500 - 1,5520
Supports
1,5440 - 1,5400
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,9692. GBP USD is in a range between 1,9625 and 1,9910. GBP USD 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 1,9600 / 1,9900 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,9715 - 1,9780
Supports
1,9665 - 1,9600
more information on GBP/USD - British Pound Dollar Click Here
USD/JPY - Dollar Yen
105,25. USD JPY is in an uptrend supported by 1H exponential moving averages. USD JPY is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should continue to move in 105,00 / 105,70 range. If the resistance is broken then the target will be 107,50.
Resistances
105,45 - 105,70
Supports
105,10 - 104,55
more information on USD/JPY - Dollar Yen Click Here
GBP/JPY - British Pound Yen
207,25. GBP JPY is in a consolidation after the last bullish movement. GBP JPY is in a range between 207,00 and 209,00. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The consolidation should continue. 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
207,50 - 208,40
Supports
206,80 - 205,10
more information on GBP/JPY - British Pound Yen Click Here
EUR/JPY - Euro Yen
162,68. EUR JPY is in a range between 161,00 and 163,00. EUR JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in 161,00 / 163,00 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
163,00 - 163,85
Supports
162,20 - 161,80
more information on EUR/JPY - Euro Yen Click Here
Published on Mon, May 5 2008, 12:51 GMT
Archive
- Currency Majors Technical Analysis
Published On Thu, Jul 3 2008, 05:48 GMT - Currency Majors Technical Analysis
Published On Wed, Jul 2 2008, 12:43 GMT - Currency Majors Technical Analysis
Published On Wed, Jul 2 2008, 05:59 GMT - Currency Majors Technical Analysis
Published On Tue, Jul 1 2008, 12:03 GMT - Currency Majors Technical Analysis
Published On Tue, Jul 1 2008, 05:37 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.Interested in forex trading? forex brokerage firms!
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