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Currency Majors Technical Analysis

Tue, Aug 26 2008, 14:02 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,4657. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a resistance below 1,4680. The downtrend should continue to gather momentum.
=> We could take a short position at 1,4670. We will put the stop loss above 1,4710 (-40 pips). The targets are 1,4620 (+50 pips) 1,4570 (+100 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,4680 - 1,4745

Supports

1,4630 - 1,4570

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,8399. GBP USD is in an downtrend directed by 4H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (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 resistance below 1,8450. The downtrend should continue to gather momentum.
=> We could take a short position at 1,8420. We will put the stop loss above 1,8460 (-40 pips). The targets are 1,8310 (110 pips) 1,8200 (+220 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,8450 - 1,8500

Supports

1,8330 - 1,8310

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

USD/CAD - US Dollar Canadian Dollar

1,0462. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility rises. Bollinger bands are deviated. Oscillators are neutral. The price should continue to move in 1,0420 / 1,0560 range. If the support is broken then the target will be 1,0340. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0495 - 1,0560

Supports

1,0450 - 1,0420

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

USD/CHF - Dollar Swiss Franc

1,1013. USD CHF is in an uptrend supported by 4H exponential moving averages. USD CHF is in a consolidation after the last bullish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should find a support above 1,0980.
=> We could take a long position at 1,0980. We will put the stop loss below 1,0950 (-30 pips). The targets are 1,1040 (+60 pips) 1,1080 (+100 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,1040 - 1,1080

Supports

1,1000 - 1,0980

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

USD/JPY - Dollar Yen

109,34. USD JPY is in a range between 108,20 and 110,30. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

109,55 - 109,90

Supports

109,10 - 108,20

more information on USD/JPY - Dollar Yen Click Here

Published on  Tue, Aug 26 2008, 14:03 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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