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Currency Majors Technical Analysis

Fri, Jul 25 2008, 13:31 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,5693. EUR USD is in a range between 1,5640 and 1,5750. The volatility is low. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

1,5750 - 1,5800

Supports

1,5675 - 1,5640

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9915. GBP USD broke 1,9880 resistance. GBP USD is in a consolidation after the last bullish movement. The volatility is high. Oscillators are neutral. The price should continue to move in 1,9820 / 1,9970 range. We won't take a position.

Resistances

1,9970 - 2,0020

Supports

1,9890 - 1,9820

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

USD/CAD - US Dollar Canadian Dollar

1,0145. USD CAD is in an uptrend supported by 1H exponential moving averages. The price is just bellow 1,0170 resistance. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,0170. The uptrend seems to be finished.
=> We could take a short position at 1,0140. We will put the stop loss above 1,0180 (-40 pips). The targets are 1,0100 (+40 pips) 1,0000 (+140 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 1.

Resistances

1,0170 - 1,0190

Supports

1,0120 - 1,0090

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

USD/CHF - Dollar Swiss Franc

1,0377. USD CHF is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should find a resistance below 1,0400.
=> We could take a short position at 1,0380. We will put the stop loss above 1,0410 (-30 pips). The targets are 1,0250 (+130 pips) 1,0080 (+300 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 1.

Resistances

1,0380 - 1,0400

Supports

1,0315 - 1,0235

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

USD/JPY - Dollar Yen

107,69. USD JPY broke 107,20 resistance. The volatility is high. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 108,00. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

107,80 - 108,00

Supports

107,50 - 106,70

more information on USD/JPY - Dollar Yen Click Here

Published on  Fri, Jul 25 2008, 13:31 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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