Currency Majors Technical Analysis

Wed, May 14 2008, 05:00 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,5439. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should continue to move in 1,5350 / 1,5550 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5490 - 1,5550

Supports

1,5430 - 1,5350

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9440. GBP USD is in an downtrend directed by 4H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue on 1,9400 (40 pips) support. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9485 - 1,9550

Supports

1,9425 - 1,9400

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

USD/CAD - US Dollar Canadian Dollar

1,0044. USD CAD is in a range between 1,0000 and 1,0100. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands. The price should find a support above 1,0000. If the support is broken then the target will be 0,9800. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0050 - 1,0100

Supports

1,0000 - 0,9930

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

USD/CHF - Dollar Swiss Franc

1,0546. USD CHF is in a range between 1,0400 and 1,0600. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in 1,0400 / 1,0600 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0550 - 1,0600

Supports

1,0500 - 1,0400

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

USD/JPY - Dollar Yen

104,77. USD JPY 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. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The price should continue to move in 104,00 / 105,30 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

104,95 - 105,30

Supports

104,35 - 104,00

more information on USD/JPY - Dollar Yen Click Here

Published on  Wed, May 14 2008, 05:03 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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