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Currency Majors Technical Analysis
Wed, Sep 3 2008, 12:40 GMT
American Session
EUR/USD - Euro Dollar
1,4442. EUR USD is in an downtrend directed by 1H 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 EUR USD. The price should find a support above 1,4380. The consolidation should continue. If the support is broken then the target will be 1,4000.
We are waiting for a break of support to take a short position.
Resistances
1,4470 - 1,4570
Supports
1,4420 - 1,4380
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,7759. 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 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue on 1,7500 support.
=> We could take a short position at 1,7770. We will put the stop loss above 1,7835 (-65 pips). The targets are 1,7670 (+100 pips) 1,7500 (+270 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.
Resistances
1,7790 - 1,7835
Supports
1,7670 - 1,7500
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,0119. 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 high. 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. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,0740 - 1,0780
Supports
1,0670 - 1,0610
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/CHF - Dollar Swiss Franc
1,1110. USD CHF is in an uptrend supported by 1H 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 bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The uptrend should continue on 1,1300 resistance.
=> We could take a long position at 1,1100. We will put the stop loss below 1,1050 (-50 pips). The targets are 1,1190 (+90 pips) 1,1300 (+200 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,1175 - 1,1190
Supports
1,1100 - 1,1075
more information on USD/CHF - Dollar Swiss Franc Click Here
USD/JPY - Dollar Yen
108,49. There is an horizontal range between 108,45 and 109,05. Support and resistance are given by Bollinger bands. 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. The risk/reward ratio is too high to take a position..
Resistances
109,20 - 110,00
Supports
108,45 - 107,60
more information on USD/JPY - Dollar Yen Click Here
Published on Wed, Sep 3 2008, 12:40 GMT
Archive
- Currency Majors Technical Analysis
Published On Mon, Dec 1 2008, 14:30 GMT - Currency Majors Technical Analysis
Published On Mon, Dec 1 2008, 06:35 GMT - Currency Majors Technical Analysis
Published On Fri, Nov 28 2008, 06:29 GMT - Currency Majors Technical Analysis
Published On Thu, Nov 27 2008, 13:46 GMT - Currency Majors Technical Analysis
Published On Thu, Nov 27 2008, 06:31 GMT
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