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Currency Majors Technical Analysis
Mon, Jul 7 2008, 12:39 GMT
American Session
EUR/USD - Euro Dollar
1,5645. EUR USD is in a consolidation after the last bearish movement. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,5600. The consolidation should continue. If the support is broken then the target will be 1,5400.
We are waiting for a break of support to take a short position.
Resistances
1,5670 - 1,5730
Supports
1,5615 - 1,5600
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,9654. GBP USD is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are deviated. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue on 1,9410 support. The price should find a support above 1,9600. We won't take a position while the volatility is high.
Resistances
1,9700 - 1,9800
Supports
1,9650 - 1,9600
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,0221. USD CAD is in a range between 1,0150 and 1,0225. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.
Resistances
1,0230 - 1,0280
Supports
1,0180 - 1,0150
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/CHF - Dollar Swiss Franc
1,0321. USD CHF is in a consolidation after the last bullish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The price should find a resistance below 1,0350. If the resistance is broken then the target will be 1,0450.
We are waiting for a break of resistance to take a long position.
Resistances
1,0335 - 1,0350
Supports
1,0300 - 1,0235
more information on USD/CHF - Dollar Swiss Franc Click Here
USD/JPY - Dollar Yen
107,68. USD JPY broke 107,00 resistance. USD JPY is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. 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 (80 pips) resistance.
=> We could take a long position at 107,60. We will put the stop loss below 107,20 (-40 pips). The targets are 108,50 (+90 pips) 108,75 (+115 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
107,70 - 108,50
Supports
107,45 - 107,00
more information on USD/JPY - Dollar Yen Click Here
Published on Mon, Jul 7 2008, 12:39 GMT
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- Currency Majors Technical Analysis
Published On Thu, Aug 7 2008, 06:10 GMT - Currency Majors Technical Analysis
Published On Wed, Aug 6 2008, 13:04 GMT - Currency Majors Technical Analysis
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Published On Tue, Aug 5 2008, 13:15 GMT - Currency Majors Technical Analysis
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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.Interested in forex trading? forex brokerage firms!
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