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Currency Majors Technical Analysis
Thu, May 8 2008, 12:54 GMT
American Session
EUR/USD - Euro Dollar
1,5357. EUR USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are parallel and form the trend. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The downtrend should continue on 1,5220 (140 pips) support.
Resistances
1,5380 - 1,5400
Supports
1,5285 - 1,5220
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,9551. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a resistance below 1,9610. The downtrend should continue on 1,9400 (150 pips) support.
=> We could take a short position at 1,9560. We will put the stop loss above 1,9620 (-60 pips). The targets are 1,9500 (+60 pips) 1,9400 (+160 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
Resistances
1,9610 - 1,9650
Supports
1,9500 - 1,9400
more information on GBP/USD - British Pound Dollar Click Here
USD/JPY - Dollar Yen
104,44. USD JPY is in a consolidation after the last bearish movement. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are tightened. 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
104,45 - 105,00
Supports
104,00 - 103,75
more information on USD/JPY - Dollar Yen Click Here
GBP/JPY - British Pound Yen
204,03. GBP JPY is in an downtrend directed by 1H exponential moving averages. GBP JPY is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 204,40. The downtrend should continue to gather momentum. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
204,40 - 205,30
Supports
203,50 - 202,50
more information on GBP/JPY - British Pound Yen Click Here
EUR/JPY - Euro Yen
160,03. EUR JPY is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR JPY. The consolidation should continue. The price should continue to move in 159,00 / 160,50 range. If the support is broken then the target will be 158,40.
Resistances
160,40 - 161,60
Supports
159,10 - 158,40
more information on EUR/JPY - Euro Yen Click Here
Published on Thu, May 8 2008, 13:37 GMT
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- 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
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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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