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Currency Majors Technical Analysis

Wed, Aug 6 2008, 13:04 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,5459. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The downtrend should continue to gather momentum. The target is expected at 1,5350.
=> We could take a short position at 1,5480. We will put the stop loss above 1,5520 (-40 pips). The targets are 1,5400 (+80 pips) 1,5350 (+130 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,5490 - 1,5520

Supports

1,5450 - 1,5420

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9527. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a support above 1,9510. The consolidation should continue. If the support is broken then the target will be 1,9470. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9585 - 1,9600

Supports

1,9520 - 1,9470

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

USD/CAD - US Dollar Canadian Dollar

1,0442. 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 low. Bollinger bands are flat. ForexTrend 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 to gather momentum.
=> We could take a long position at 1,0430. We will put the stop loss below 1,0395 (-35 pips). The targets are 1,0500 (+70 pips) 1,0550 (+170 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,0450 - 1,0500

Supports

1,0410 - 1,0385

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

USD/CHF - Dollar Swiss Franc

1,0545. USD CHF is in an uptrend supported by 1H exponential moving averages. USD CHF is in a consolidation after the last bullish movement. The volatility is low. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The uptrend should continue to gather momentum.
=> We could take a long position at 1,0530. We will put the stop loss below 1,0500 (-30 pips). The targets are 1,0570 (+40 pips) 1,0600 (+70 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 - 1,0570

Supports

1,0530 - 1,0500

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

USD/JPY - Dollar Yen

108,71. USD JPY is in an uptrend supported by 1H exponential moving averages. The volatility rises. Bollinger bands are deviated. ForexTrend 1H, 4H (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 109,20 (50 pips) resistance. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

108,75 - 109,20

Supports

105,80 - 108,30

more information on USD/JPY - Dollar Yen Click Here

Published on  Wed, Aug 6 2008, 13:05 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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