Currency Majors Technical Analysis

Tue, Jul 8 2008, 12:01 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,5704. EUR USD is in a range between 1,5615 and 1,5750. EUR USD 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 1,5615 / 1,5750 range. If the support is broken then the target will be 1,5600. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5750 - 1,5780

Supports

1,5680 - 1,5615

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9753. GBP USD is in a consolidation after the last bearish movement. The volatility is low. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

1,9790 - 1,9890

Supports

1,9710 - 1,9650

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

USD/CAD - US Dollar Canadian Dollar

1,0189. USD CAD is in a range between 1,0150 and 1,0230. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in 1,0150 / 1,0230 range. We won't take a position.

Resistances

1,0210 - 1,0230

Supports

1,0180 - 1,0150

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

USD/CHF - Dollar Swiss Franc

1,0255. USD CHF is in a range between 1,0225 and 1,0335. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should find a support above 1,0225. If the support is broken then the target will be 1,0100 (150 pips). We won't take a position.

Resistances

1,0290 - 1,0330

Supports

1,0225 - 1,0160

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

USD/JPY - Dollar Yen

106,85. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Oscillators are neutral. The price should continue to move in 106,00 / 108,00 range. We won't take a position.

Resistances

107,20 - 107,75

Supports

106,30 - 106,00

more information on USD/JPY - Dollar Yen Click Here

Published on  Tue, Jul 8 2008, 12:08 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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