Currency Majors Technical Analysis

Mon, May 12 2008, 12:56 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,5453. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. EUR USD is in a range between 1,5280 and 1,5500. 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

1,5465 - 1,5500

Supports

1,5425 - 1,5380

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9579. GBP USD is in a range between 1,9560 and 1,9600. GBP USD 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 1,9460 / 1,9600 range. 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

1,9600 - 1,9630

Supports

1,9540 - 1,9460

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

USD/CAD - US Dollar Canadian Dollar

1,0055. USD CAD is in a range between 1,0000 and 1,0180. 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 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

1,0080 - 1,0100

Supports

1,0045 - 1,0000

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

GBP/JPY - British Pound Yen

203,24. GBP JPY broke 201,60 resistance. GBP JPY is in a consolidation after the last bullish movement. GBP JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility rises. Bollinger bands are deviated. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP JPY. The consolidation should continue. The price should continue to move in 200,00 / 204,00 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

203,75 - 204,00

Supports

202,75 - 200,00

more information on GBP/JPY - British Pound Yen Click Here

EUR/JPY - Euro Yen

160,43. EUR JPY broke 159,90 resistance. EUR JPY is in a range between 158,75 and 160,60. The volatility rises. Bollinger bands are deviated. Oscillators are neutral. The price should continue to move in 158,75 / 160,60 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

160,60 - 161,10

Supports

159,90 - 158,75

more information on EUR/JPY - Euro Yen Click Here

Published on  Mon, May 12 2008, 12:57 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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