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Currency Majors Technical Analysis

Wed, Jul 9 2008, 05:50 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,5713. 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. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in 1,5615 / 1,5750 range. We won't take a position.

Resistances

1,5725 - 1,5750

Supports

1,5680 - 1,5615

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9721. GBP USD is in an downtrend directed by 1H exponential moving averages. 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. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a resistance below 1,9750. The downtrend should continue to gather momentum.
=> We could take a short position at 1,9730. We will put the stop loss above 1,9775 (-45 pips). The targets are 1,9650 (+80 pips) 1,9600 (+130 pips) 1,9500 (+230 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,9740 - 1,9775

Supports

1,9675 - 1,9650

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

USD/CAD - US Dollar Canadian Dollar

1,0183. USD CAD is in a range between 1,01510 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 Bollinger bands. We won't take a position.

Resistances

1,0200 - 1,0230

Supports

1,0180 - 1,0150

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

USD/CHF - Dollar Swiss Franc

1,0285. USD CHF is in a range between 1,0225 and 1,0350. USD CHF 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 1,0225 / 1,0350 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0300 - 1,0350

Supports

1,0250 - 1,0225

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

USD/JPY - Dollar Yen

107,10. USD JPY is in a consolidation after the last bullish movement. USD JPY 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 106,40 / 107,75 range. We won't take a position.

Resistances

107,50 - 107,75

Supports

106,85 - 106,40

more information on USD/JPY - Dollar Yen Click Here

Published on  Wed, Jul 9 2008, 05:51 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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