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Currency Majors Technical Analysis
Fri, May 9 2008, 05:13 GMT
European Session
EUR/USD - Euro Dollar
1,5417. 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 decreases. Bollinger bands are tightened. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum.
=> We could take a short position at 1,5420. We will put the stop loss above 1,5470 (-50 pips). The targets are 1,5300 (+120 pips) 1,5220 (+200 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
Resistances
1,5425 - 1,5470
Supports
1,5380 - 1,5330
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,9552. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should find a support above 1,9500. If the support is broken then the target will be 1,9400. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,9570 - 1,9615
Supports
1,9500 - 1,9450
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,0137. USD CAD is in a consolidation after the last bullish movement. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in 1,0000 / 1,0250 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,0150 - 1,0180
Supports
1,0100 - 1,0000
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/CHF - Dollar Swiss Franc
1,0484. USD CHF is in an uptrend supported by 4H exponential moving averages. USD CHF is in a consolidation after the last bullish movement. USD CHF is in a range between 1,0470 and 1,0600. The volatility is high. Bollinger bands are parallel and form the trend. Oscillators are neutral. The consolidation should continue. If the support is broken then the target will be 1,0300. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,0530 - 1,0600
Supports
1,0470 - 1,0430
more information on USD/CHF - Dollar Swiss Franc Click Here
USD/JPY - Dollar Yen
103,50. 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 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 USD JPY. The price should find a support above 103,40. If the support is broken then the target will be 102,50. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
104,05 - 104,70
Supports
103,40 - 103,00
more information on USD/JPY - Dollar Yen Click Here
Published on Fri, May 9 2008, 05:14 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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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!
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