Currency Majors Technical Analysis

Tue, Jul 1 2008, 05:37 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,5752. EUR USD is in an uptrend supported by 1H exponential moving averages. EUR USD is in a consolidation after the last bullish movement. The volatility is low. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,5850. The consolidation should continue. The price should continue to move in 1,5710 / 1,5850 range. We won't take a position.

Resistances

1,5775 - 1,5830

Supports

1,5730 - 1,5710

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9904. GBP USD is in an uptrend supported by 1H exponential moving averages. GBP USD is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. The price should find a support above 1,9830. The uptrend should continue to gather momentum.
=> We could take a long position at 1,9890. We will put the stop loss below 1,9830 (-60 pips). The targets are 2,0000 (+110 pips) 2,0180 (+290 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,9925 - 1,9950

Supports

1,9880 - 1,9830

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

USD/CAD - US Dollar Canadian Dollar

1,0197. USD CAD 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 consolidation should continue. The price should continue to move in 1,0130 / 1,0250 range. We won't take a position.

Resistances

1,0215 - 1,0250

Supports

1,0165 - 1,0130

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

USD/CHF - Dollar Swiss Franc

1,0210. USD CHF is in an downtrend directed by 1H exponential moving averages. USD CHF is in a consolidation after the last bearish movement. The volatility is low. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,0230. The downtrend should continue to gather momentum.
=> We could take a short position at 1,0210. We will put the stop loss above 1,0240 (-30 pips). The targets are 1,0140 (+70 pips) 1,0000 (+210 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,0225 - 1,0240

Supports

1,0185 - 1,0135

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

USD/JPY - Dollar Yen

106,01. USD JPY is in an downtrend directed by 1H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. Oscillators are neutral. The price should find a resistance below 106,50. The consolidation should continue. The price should continue to move in 105,00 / 106,50 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

106,50 - 107,20

Supports

105,90 - 105,00

more information on USD/JPY - Dollar Yen Click Here

Published on  Tue, Jul 1 2008, 05:41 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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