Currency Majors Technical Analysis

Tue, May 6 2008, 12:28 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,5524. EUR USD is in a range between 1,5400 and 1,5570. EUR 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 1,5400 / 1,5570 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

USD/CHF - Dollar Swiss Franc

1,0488. 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. Oscillators are neutral. The price should find a resistance below 1,0600. The consolidation should continue. The price should find a support above 1,0460. If the support is broken then the target will be 1,0300. We won't take a position.

Resistances

1,0500 - 1,0550

Supports

1,0460 - 1,0410

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

GBP/JPY - British Pound Yen

205,91. GBP JPY is in a range between 205,50 and 208,60. GBP JPY 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 205,50 / 208,60 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

206,50 - 207,30

Supports

205,50 - 205,00

more information on GBP/JPY - British Pound Yen Click Here

EUR/JPY - Euro Yen

162,19. EUR JPY is in a consolidation after the last bullish movement. 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 is low. 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

162,70 - 163,10

Supports

162,20 - 161,70

more information on EUR/JPY - Euro Yen Click Here

EUR/CHF - Euro Swiss Franc

1,6273. EUR CHF is in an uptrend supported by 1H exponential moving averages. EUR CHF is in a consolidation after the last bullish movement. The price is just above 1,6265 support. The volatility rises. Bollinger bands are deviated. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR CHF. The price should find a support above 1,6265. The consolidation should continue. If the support is broken then the target will be 1,6220. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,6300 - 1,6350

Supports

1,6265 - 1,6220

more information on EUR/CHF - Euro Swiss Franc Click Here

Published on  Tue, May 6 2008, 12:31 GMT

Archive

Mataf.net  | 25 Rue Bayard 38140 IZEAUX
http://www.mataf.net/en/ | forex@mataf.net

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.

Interested in forex trading? forex brokerage firms!


ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
Interbank FX, LLC
Contact the broker/FDM
Open a demo account
ODL Securities Inc
Contact the broker/FDM
Open a demo account		Alpari (US), LLC
Contact the broker/FDM
Open a demo account		MIG INVESTMENTS SA
Contact the broker/FDM
Open a demo account

FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)

[Read Premium full description]


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.

Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.