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Currency Majors Technical Analysis
Wed, Sep 3 2008, 06:30 GMT
European Session
EUR/USD - Euro Dollar
1,4440. EUR USD is in an downtrend directed by 1H exponential moving averages. The volatility rises. Bollinger bands are deviated. 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 downtrend should continue to gather momentum. The price should find a support above 1,4400. If the support is broken then the target will be 1,4320. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,4485 - 1,4550
Supports
1,4410 - 1,4390
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,7745. GBP USD is in an downtrend directed by 1H exponential moving averages. The volatility rises. Bollinger bands are deviated. 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 downtrend should continue on 1,7500 (240 pips) support.
=> We could take a short position at 1,7770. We will put the stop loss above 1,7840 (-70 pips). The targets are 1,7650 (+120 pips) 1,7550 (+220 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.
Resistances
1,7850 - 1,7900
Supports
1,7700 - 1,7650
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,0707. 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 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The consolidation should continue. The price should find a support above 1,0660.
=> We could take a long position at 1,0680. We will put the stop loss below 1,0645 (-35 pips). The targets are 1,0750 (+70 pips) 1,0790 (+110 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,0740 - 1,0790
Supports
1,0660 - 1,0560
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/CHF - Dollar Swiss Franc
1,1105. USD CHF is in an uptrend supported by 1H exponential moving averages. USD CHF is in a consolidation after the last bullish movement. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should find a support above 1,1000. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,1135 - 1,1200
Supports
1,1060 - 1,1040
more information on USD/CHF - Dollar Swiss Franc Click Here
USD/JPY - Dollar Yen
108,96. USD JPY is in a consolidation after the last bullish movement. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in Bollinger bands. We won't take a position.
Resistances
109,20 - 110,00
Supports
108,50 - 107,60
more information on USD/JPY - Dollar Yen Click Here
Published on Wed, Sep 3 2008, 06:30 GMT
Archive
- Currency Majors Technical Analysis
Published On Fri, Nov 21 2008, 07:03 GMT - Currency Majors Technical Analysis
Published On Thu, Nov 20 2008, 14:30 GMT - Currency Majors Technical Analysis
Published On Thu, Nov 20 2008, 06:54 GMT - Currency Majors Technical Analysis
Published On Wed, Nov 19 2008, 14:14 GMT - Currency Majors Technical Analysis
Published On Wed, Nov 19 2008, 08:34 GMT
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