Currency Majors Technical Analysis

Fri, Jul 25 2008, 05:49 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,5699. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in 1,5630 / 1,5750 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5715 - 1,5750

Supports

1,5665 - 1,5630

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9853. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should find a support above 1,9820. The downtrend seems to be finished. The trend should reverse.
=> We could take a long position at 1,9850. We will put the stop loss below 1,9810 (-40 pips). The targets are 1,9900 (+50 pips) 2,0000 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 1.

Resistances

1,9890 - 1,9960

Supports

1,9820 - 1,9790

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

USD/CAD - US Dollar Canadian Dollar

1,0136. USD CAD is in an uptrend supported by 1H exponential moving averages. USD CAD is in a consolidation after the last bullish movement. The volatility is high. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a resistance below 1,0160. The uptrend seems to be finished.
=> We could take a short position at 1,0150. We will put the stop loss above 1,0185 (-35 pips). The targets are 1,0090 (+60 pips) 1,0050 (+110 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 1.

Resistances

1,0160 - 1,0190

Supports

1,0120 - 1,0090

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

USD/CHF - Dollar Swiss Franc

1,0340. USD CHF is in a consolidation after the last bullish movement. The price is just bellow 1,0400 resistance. The volatility is low. Oscillators are neutral. The consolidation should continue. The price should continue to move in 1,0300 / 1,0400 range. If the support is broken then the target will be 1,0090.
We are waiting for a break of support to take a short position.

Resistances

1,0355 - 1,0400

Supports

1,0330 - 1,0300

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

USD/JPY - Dollar Yen

106,80. USD JPY broke 107,15 support. The volatility is high. Bollinger bands are parallel and form the trend. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The downtrend should continue on 106,30 (50 pips) support. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

107,00 - 107,15

Supports

106,75 - 106,30

more information on USD/JPY - Dollar Yen Click Here

Published on  Fri, Jul 25 2008, 05:49 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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