FXstreet.com

0

0

Currency Majors Technical Analysis

Fri, Aug 29 2008, 13:07 GMT

Mataf.net


American Session

EUR/USD - Euro Dollar

1,4739. 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). The volatility is low. 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

1,4770 - 1,4810

Supports

1,4685 - 1,4575

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,8305. 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, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,8325. The downtrend should continue to gather momentum.
=> We could take a short position at 1,8310. We will put the stop loss above 1,8350 (-40 pips). The targets are 1,8250 (+60 pips) 1,8150 (+160 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,8350 - 1,8380

Supports

1,8250 - 1,8150

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

USD/CAD - US Dollar Canadian Dollar

1,0541. USD CAD is in a range between 1,0430 and 1,0565. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should continue to move in 1,0420 / 1,0550 range. We won't take a position.

Resistances

1,0550 - 1,0565

Supports

1,0475 - 1,0430

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

USD/CHF - Dollar Swiss Franc

1,0980. USD CHF is in a range between 1,0880 and 1,1010. USD CHF 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

1,1010 - 1,1090

Supports

1,0925 - 1,0880

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

USD/JPY - Dollar Yen

108,66. USD JPY broke 108,90 support. USD JPY is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. Oscillators are neutral. The price should find a support above 108,40. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

108,90 - 109,30

Supports

108,40 - 108,20

more information on USD/JPY - Dollar Yen Click Here

Published on  Fri, Aug 29 2008, 13:10 GMT


Archive

Mataf.net  | 325 Rue Parmentier 38140 Izeaux
http://www.mataf.net/en/ | forex@mataf.net

Legal disclaimer and risk disclosure

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.


Interested in forex trading? forex brokerage firms!


FOREX.com
Contact the broker/FDM
Open a demo account
Interbank FX, LLC
Contact the broker/FDM
Open a demo account
FXDD
Contact the broker/FDM
Open a demo account		GFS Forex & Futures
Contact the broker/FDM
Open a demo account		ODL Securities Inc
Contact the broker/FDM
Open a demo account

FXstreet.com will give you a 3 months membership as soon as minimum rebates have been generated (€150 for private trader/ €300 for corporate trader)

[Read Premium full description]

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer.

Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.

Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

©2008 "FXstreet.com. The Forex Market" All Rights Reserved.