Currency Majors Technical Analysis

Tue, Jul 1 2008, 12:03 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,5783. EUR USD is in an uptrend supported by 1H exponential moving averages. EUR USD is in a consolidation after the last bullish movement. The price is just bellow 1,5830 / 1,5850 resistance. The volatility is low. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should find a resistance below 1,5830 / 1,5850. The consolidation should continue. If the resistance is broken then the target will be 1,6000.
We are waiting for a break of resistance to take a long position.

Resistances

1,5820 - 1,5850

Supports

1,5780 - 1,5720

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9963. GBP USD is in an uptrend supported by 1H exponential moving averages. The volatility rises. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP USD. The uptrend should continue on 2,0180 resistance.
=> We could take a long position at 1,9960. We will put the stop loss below 1,9920 (-40 pips). The targets are 2,0050 (+90 pips) 2,0180 (220 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

2,0010 - 2,0050

Supports

1,9950 - 1,9925

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

USD/CAD - US Dollar Canadian Dollar

1,0179. USD CAD is in a consolidation after the last bullish movement. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). Bollinger bands are flat. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

1,0215 - 1,0250

Supports

1,0145 - 1,0100

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

USD/CHF - Dollar Swiss Franc

1,0166. 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 downtrend should continue on 1,0000 support.
=> We could take a short position at 1,0170. We will put the stop loss above 1,0200 (-30 pips). The targets are 1,0100 (+70 pips) 1,0000 (+170 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,0180 - 1,0230

Supports

1,0135 - 1,0100

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

USD/JPY - Dollar Yen

105,50. USD JPY is in a consolidation after the last bearish movement. The price is just above 105,00 support. The volatility rises. Bollinger bands are deviated. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The price should find a support above 105,00. The consolidation should continue. If the support is broken then the target will be 102,50 (300 pips).
We are waiting for a break of support to take a short position.

Resistances

105,90 - 106,50

Supports

105,30 - 105,00

more information on USD/JPY - Dollar Yen Click Here

Published on  Tue, Jul 1 2008, 13:06 GMT

Archive

Mataf.net  | 25 Rue Bayard 38140 IZEAUX
http://www.mataf.net/en/ | forex@mataf.net

Legal disclaimer and risk disclosure

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.

Interested in forex trading? forex brokerage firms!


MG Financial Group
Contact the broker/FDM
Open a demo account
FOREX.com
Contact the broker/FDM
Open a demo account
Alpari (UK) Limited
Contact the broker/FDM
Open a demo account		GFX Group SA
Contact the broker/FDM
Open a demo account		ODL Securities Inc
Contact the broker/FDM
Open a demo account

FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)

[Read Premium full description]


Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management.

Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.