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Currency Majors Technical Analysis

Tue, Aug 5 2008, 13:15 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,5483. EUR USD broke 1,5530 support. EUR USD is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The downtrend should continue on 1,5350 support.
=> We could take a short position at 1,5490. We will put the stop loss above 1,5525 (-35 pips). The targets are 1,5400 (+90 pips) 1,5350 (+140 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,5505 - 1,5535

Supports

1,5465 - 1,5400

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9552. GBP USD is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a support above 1,9530 / 1,9500. The downtrend seems to be finished. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9605 - 1,9660

Supports

1,9530 - 1,9500

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

USD/CAD - US Dollar Canadian Dollar

1,0429. USD CAD is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The uptrend should continue on 1,0560 resistance. The price should find a resistance below 1,0460.
=> We could take a long position at 1,0410. We will put the stop loss below 1,0375 (-35 pips). The targets are 1,0460 (+50 pips) 1,0560 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,0460 - 1,0560

Supports

1,0390 - 1,0360

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

USD/CHF - Dollar Swiss Franc

1,0535. USD CHF broke 1,0500 resistance. USD CHF is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The uptrend should continue on 1,0630 resistance.
=> We could take a long position at 1,0530. We will put the stop loss below 1,0495 (-35 pips). The targets are 1,0590 (+60 pips) 1,0630 (+100 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,0550 - 1,0560

Supports

1,0500 - 1,0475

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

USD/JPY - Dollar Yen

107,93. USD JPY is in a range between 107,30 and 108,30. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in 107,30 / 108,30 range. We won't take a position.

Resistances

108,10 - 108,30

Supports

107,70 - 107,30

more information on USD/JPY - Dollar Yen Click Here

Published on  Tue, Aug 5 2008, 13:16 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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