Currency Majors Technical Analysis

Wed, Jul 23 2008, 06:24 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,5794. EUR USD broke 1,5800 support. EUR USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should find a support above 1,5735. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5830 - 1,5940

Supports

1,5760 - 1,5735

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9940. GBP USD is in a consolidation after the last bearish movement. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are tightened. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should find a support above 1,9900. The consolidation should continue. We won't take a position.

Resistances

1,9965 - 2,0000

Supports

1,9900 - 1,9850

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

USD/CAD - US Dollar Canadian Dollar

1,0085. USD CAD broke 1,0070 resistance. USD CAD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. Oscillators are neutral. The consolidation should continue. The price should find a resistance below 1,0110. We won't take a position.

Resistances

1,0110 - 1,0130

Supports

1,0060 - 0,9990

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

USD/CHF - Dollar Swiss Franc

1,0295. USD CHF broke 1,0240 resistance. USD CHF is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,0340. We won't take a position.

Resistances

1,0340 - 1,0400

Supports

1,0240 - 1,0140

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

USD/JPY - Dollar Yen

107,23. USD JPY is in an uptrend supported by 1H exponential moving averages. USD JPY is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The price should find a resistance below 107,40. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

107,45 - 108,00

Supports

107,10 - 106,00

more information on USD/JPY - Dollar Yen Click Here

Published on  Wed, Jul 23 2008, 06:25 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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