Currency Majors Technical Analysis

Wed, Jul 23 2008, 13:20 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,5748. EUR USD is in a consolidation after the last bullish 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 1,5700. If the support is broken then the target will be 1,5530. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5800 - 1,5900

Supports

1,5720 - 1,5700

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

2,0010. GBP USD is in a range between 1,9900 and 2,0075. GBP USD 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 1,9900 / 2,0075 range. We won't take a position.

Resistances

2,0025 - 2,0075

Supports

1,9965 - 1,9900

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

USD/CAD - US Dollar Canadian Dollar

1,0073. USD CAD is in a consolidation after the last bullish movement. 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

1,0115 - 1,0180

Supports

1,0060 - 0,9990

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

USD/CHF - Dollar Swiss Franc

1,0333. USD CHF is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. 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 1,0370. The consolidation should continue. We won't take a position.

Resistances

1,0370 - 1,0400

Supports

1,0290 - 1,0235

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

USD/JPY - Dollar Yen

107,77. USD JPY 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. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The uptrend should continue on 108,00 resistance. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

108,00 - 108,30

Supports

107,15 - 106,20

more information on USD/JPY - Dollar Yen Click Here

Published on  Wed, Jul 23 2008, 13:21 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
GFS Forex & Futures
Contact the broker/FDM
Open a demo account		Interactive Brokers LLC
Contact the broker/FDM
Open a demo account		ACM USA LLC
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.