Currency Majors Technical Analysis

Tue, May 13 2008, 05:08 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,5522. EUR USD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,5560. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5570 - 1,5640

Supports

1,5490 - 1,5400

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9536. GBP USD is in a range between 1,9460 and 1,9620. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should continue to move in 1,9400 / 1,9630 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9560 - 1,9630

Supports

1,9525 - 1,9460

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

USD/CAD - US Dollar Canadian Dollar

1,0071. 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. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 1,0000 / 1,0180 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0080 - 1,0180

Supports

1,0030 - 1,0000

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

USD/CHF - Dollar Swiss Franc

1,0458. USD CHF is in a range between 1,0400 and 1,0500. 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

1,0465 - 1,0505

Supports

1,0400 - 1,0350

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

USD/JPY - Dollar Yen

103,89. USD JPY 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 102,60 / 104,50 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

104,00 - 104,50

Supports

103,50 - 102,60

more information on USD/JPY - Dollar Yen Click Here

Published on  Tue, May 13 2008, 05:10 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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