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Currency Majors Technical Analysis

Fri, Aug 29 2008, 06:39 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,4745. EUR USD is in a range between 1,4575 and 1,4810. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

1,4760 - 1,4810

Supports

1,4730 - 1,4670

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,8286. 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 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum.
=> We could take a short position at 1,8300. We will put the stop loss above 1,8350 (-50 pips). The targets are 1,8220 (+80 pips) 1,8150 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances

1,8400 - 1,8475

Supports

1,8300 - 1,8180

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

USD/CAD - US Dollar Canadian Dollar

1,0515. USD CAD is in a consolidation after the last bullish movement. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Oscillators are neutral. The price should continue to move in 1,0420 / 1,0550 range. We won't take a position.

Resistances

1,0530 - 1,0565

Supports

1,0490 - 1,0430

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

USD/CHF - Dollar Swiss Franc

1,0953. USD CHF is in a range between 1,0880 and 1,1000. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

1,0960 - 1,1010

Supports

1,0935 - 1,0880

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

USD/JPY - Dollar Yen

109,12. USD JPY is in a range between 108,80 and 109,90. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). Bollinger bands are flat. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

109,30 - 109,90

Supports

109,00 - 108,80

more information on USD/JPY - Dollar Yen Click Here

Published on  Fri, Aug 29 2008, 06:40 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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