Currency Majors Technical Analysis

Mon, Jul 7 2008, 06:14 GMT

Mataf.net


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

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
ACM Advanced Currency Markets SA
Contact the broker/FDM
Open a demo account
ACM USA LLC
Contact the broker/FDM
Open a demo account		Deutsche Bank
Contact the broker/FDM
Open a demo account		Forex Club Financial Company
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.