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Currency Majors Technical Analysis

Mon, Jul 7 2008, 06:14 GMT

Mataf.net


Mataf.net

More technical analysis about: EUR/USD, USD/CHF, USD/JPY, GBP/USD, AUD/USD, USD/CAD, EUR/CHF, EUR/JPY, EUR/GBP, EUR/AUD, EUR/CAD

European Session

EUR/USD - Euro Dollar

1,5636. EUR USD is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The downtrend should continue to gather momentum. The price should find a support above 1,5600. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5665 - 1,5720

Supports

1,5620 - 1,5600

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9757. GBP USD broke 1,9800 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 GBP USD. The downtrend should continue to gather momentum.
=> We could take a short position at 1,9760. We will put the stop loss above 1,9800 (-40 pips). The targets are 1,9700 (+60 pips) 1,9600 (+160 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,9800 - 1,9840

Supports

1,9750 - 1,9700

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

USD/CAD - US Dollar Canadian Dollar

1,0203. USD CAD is in a range between 1,0090 and 1,0230. 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

1,0230 - 1,0275

Supports

1,0150 - 1,0090

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

USD/CHF - Dollar Swiss Franc

1,0305. USD CHF broke 1,0280 resistance. USD CHF is in a consolidation after the last bullish movement. The volatility rises. Bollinger bands are deviated. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The price should find a resistance below 1,0325. The consolidation should continue. We won't take a position.

Resistances

1,0325 - 1,0400

Supports

1,0280 - 1,0230

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

USD/JPY - Dollar Yen

107,34. USD JPY broke 107,00 resistance. The volatility rises. Bollinger bands are deviated. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The uptrend should continue on 108,50 (115 pips) resistance.
=> We could take a long position at 107,30. We will put the stop loss below 106,90 (-40 pips). The targets are 108,00 (+70 pips) 108,50 (+120 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

107,50 - 108,00

Supports

107,00 - 106,60

more information on USD/JPY - Dollar Yen Click Here

Published on  Mon, Jul 7 2008, 06:15 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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