Currency Majors Technical Analysis

Mon, May 12 2008, 05:04 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,5409. EUR USD is in a range between 1,5300 and 1,5500. 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 1,5300 / 1,5500 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5450 - 1,5500

Supports

1,5400 - 1,5300

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9481. GBP USD is in an downtrend directed by 1H exponential moving averages. 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 GBP USD. The downtrend should continue on 1,9400 (80 pips) support. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9540 - 1,9615

Supports

1,9460 - 1,9400

more information on GBP/USD - British Pound Dollar Click Here

USD/CAD - US Dollar Canadian Dollar

1,0084. USD CAD is in a range between 1,0000 and 1,0250. USD CAD 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 1,0000 / 1,0250 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0095 - 1,0140

Supports

1,0050 - 1,0000

more information on USD/CAD - US Dollar Canadian Dollar Click Here

USD/CHF - Dollar Swiss Franc

1,0471. USD CHF is in a consolidation after the last bearish movement. USD CHF 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 Bollinger bands. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0480 - 1,0525

Supports

1,0450 - 1,0395

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

USD/JPY - Dollar Yen

103,33. USD JPY is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The consolidation should continue. 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

103,50 - 103,95

Supports

103,15 - 102,60

more information on USD/JPY - Dollar Yen Click Here

Published on  Mon, May 12 2008, 05:09 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.

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