Currency Majors Technical Analysis

Tue, May 6 2008, 05:02 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,5507. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are parallel and form the trend. Oscillators are neutral. The price should continue to move in 1,5400 / 1,5560 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5540 - 1,5560

Supports

1,5485 - 1,5450

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9725. 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 Bollinger bands. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9750 - 1,9780

Supports

1,9705 - 1,9670

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

USD/CAD - US Dollar Canadian Dollar

1,0109. USD CAD broke 1,0150 support. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Bollinger bands are parallel and form the trend. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The price should find a support above 1,0060. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0120 - 1,0150

Supports

1,0085 - 1,0060

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

USD/CHF - Dollar Swiss Franc

1,0510. USD CHF is in an uptrend supported by 1H exponential moving averages. USD CHF is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,0600. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0540 - 1,0600

Supports

1,0500 - 1,0475

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

USD/JPY - Dollar Yen

104,82. USD JPY is in an uptrend supported by 4H exponential moving averages. USD JPY is in a consolidation after the last bullish movement. The volatility is high. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should continue to move in 103,80 / 105,80 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

105,00 - 105,50

Supports

104,60 - 103,80

more information on USD/JPY - Dollar Yen Click Here

Published on  Tue, May 6 2008, 05:05 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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