Premium
- New York
- London
- Barcelona
- Tokyo
- Sydney
Search
Currency Majors Technical Analysis
Thu, May 8 2008, 04:59 GMT
European Session
EUR/USD - Euro Dollar
1,5318. EUR USD broke 1,5365 support. EUR USD is in an downtrend directed by 4H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The downtrend should continue on 1,5220 (100 pips) support.
Resistances
1,5365 - 1,5410
Supports
1,5285 - 1,5220
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,9517. GBP USD broke 1,9630 support. GBP USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue to gather momentum. The target is expected at 1,9400 (115 pips).
Resistances
1,9545 - 1,9590
Supports
1,9500 - 1,9400
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,0108. USD CAD broke 1,0070 resistance. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. 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
1,0140 - 1,0240
Supports
1,0070 - 1,0000
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/CHF - Dollar Swiss Franc
1,0589. USD CHF is in an uptrend supported by 4H exponential moving averages. USD CHF is in a consolidation after the last bullish movement. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The price should find a resistance below 1,0600. If the resistance is broken then the target will be 1,0900 (310 pips).
Resistances
1,0600 - 1,0620
Supports
1,0560 - 1,0540
more information on USD/CHF - Dollar Swiss Franc Click Here
USD/JPY - Dollar Yen
104,42. USD JPY is in a range between 104,20 and 105,60. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Oscillators are neutral. The price should continue to move in 104,20 / 105,60 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
104,65 - 105,00
Supports
104,20 - 104,00
more information on USD/JPY - Dollar Yen Click Here
Published on Thu, May 8 2008, 05:01 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
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!
Placing FXstreet.com as your referral agent on your FX trading account and generating rebates higher than the Premium fee, FXstreet.com will give you access to the premium subscription for free.
Become an FXstreet.com Premium Member for only 45 EUR a month or 450 EUR a year if you are private trader, 900 EUR a year if you are a corporate trader.
More info
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.