Currency Majors Technical Analysis

Thu, Jul 3 2008, 05:48 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,5870. 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 decreases. Bollinger bands are tightened. ForexTrend 1H, 4H, dailt (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should find a support above 1,5830. The uptrend should continue to gather momentum.
=> We could take a long position at 1,5860. We will put the stop loss below 1,5820 (-40 pips). The targets are 1,5920 (+60 pips) 1,6000 (+140 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,5895 - 1,5920

Supports

1,5850 - 1,5835

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9922. GBP USD is in an uptrend supported by 4H exponential moving averages. GBP USD is in a consolidation after the last bullish movement. GBP USD is in a range between 1,9840 and 2,0000. The volatility decreases. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a support above 1,9840. The uptrend should continue to gather momentum.
=> We could take a long position at 1,9880. We will put the stop loss below 1,9840 (-40 pips). The targets are 2,0000 (+120 pips) 2,0050 (+170 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,9950 - 2,0000

Supports

1,9890 - 1,9840

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

USD/CAD - US Dollar Canadian Dollar

1,0134. USD CAD is in a consolidation after the last bearish movement. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are tightened. Oscillators are neutral. The price should continue to move in 1,0050 / 1,0235 range. We won't take a position.

Resistances

1,0150 - 1,0235

Supports

1,0105 - 1,0050

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

USD/CHF - Dollar Swiss Franc

1,0161. USD CHF is in an downtrend directed by 1H exponential moving averages. USD CHF is in a consolidation after the last bearish movement. USD CHF is in a range between 1,0130 and 1,0240. The volatility is low. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The price should find a support above 1,0130. If the support is broken then the target will be 1,0000.
=> We could take a short position at 1,0160. We will put the stop loss above 1,0200 (-40 pips). The targets are 1,0100 (+60 pips) 1,0000 (+160 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,0230 - 1,0270

Supports

1,0140 - 1,0100

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

USD/JPY - Dollar Yen

106,14. USD JPY is in a range between 105,80 and 106,80. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands. If the resistance is broken then the target will be 105,00. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

106,20 - 106,80

Supports

105,80 - 105,00

more information on USD/JPY - Dollar Yen Click Here

Published on  Thu, Jul 3 2008, 05:49 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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