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Currency Majors Technical Analysis
Wed, May 7 2008, 12:16 GMT
American Session
EUR/USD - Euro Dollar
1,5430. EUR USD broke 1,5480 support. EUR USD is in an downtrend directed by 4H exponential moving averages. The volatility rises. Bollinger bands are deviated. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,5400. The price should consolidate. If the support is broken then the target will be 1,5230 (100 pips).
Resistances
1,5450 - 1,5520
Supports
1,5410 - 1,5380
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,9569. GBP USD broke 1,9650 support. GBP USD is in an downtrend directed by 15min exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue on 1,9400 (170 pips) support. We won't take a position while the volatility is high.
Resistances
1,9650 - 1,9710
Supports
1,9550 - 1,9400
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,0028. USD CAD broke 1,0060 support. USD CAD is in a consolidation after the last bearish movement. 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 consolidation should continue. The price should continue to move in Bollinger bands. If the support is broken then the target will be 0,9900 (130 pips).
Resistances
1,0080 - 1,0110
Supports
1,0000 - 0,9900
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/JPY - Dollar Yen
105,34. USD JPY broke 105,00 resistance. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility rises. Bollinger bands are parallel and form the trend. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should consolidate. The price should find a resistance below 105,60. If the resistance is broken then the target will be 107,50.
Resistances
105,50 - 105,80
Supports
105,00 - 104,70
more information on USD/JPY - Dollar Yen Click Here
EUR/GBP - Euro British Pound
0,7887. EUR GBP is in a consolidation after the last bullish movement. EUR GBP moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in 0,7860 / 0,7920 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
0,7895 - 0,7920
Supports
0,7875 - 0,7860
more information on EUR/GBP - Euro British Pound Click Here
Published on Wed, May 7 2008, 12:17 GMT
Archive
- Currency Majors Technical Analysis
Published On Fri, May 16 2008, 05:00 GMT - Currency Majors Technical Analysis
Published On Thu, May 15 2008, 05:08 GMT - Currency Majors Technical Analysis
Published On Wed, May 14 2008, 05:00 GMT - Currency Majors Technical Analysis
Published On Tue, May 13 2008, 05:08 GMT - Currency Majors Technical Analysis
Published On Mon, May 12 2008, 12:56 GMT
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