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Currency Majors Technical Analysis

Fri, Sep 5 2008, 10:29 GMT

Mataf.net


European Session

EUR/USD - Euro Dollar

1,4223. EUR USD broke 1,4400 support. EUR USD is in an downtrend directed by 1H exponential moving averages. The volatility decreases. 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 EUR USD. The downtrend should continue to gather momentum.
=> We could take a short position at 1,4250. We will put the stop loss above 1,4330 (-80 pips). The targets are 1,4130 (+120 pips) 1,4000 (+250 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances

1,4320 - 1,4460

Supports

1,4220 - 1,4130

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,7608. 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. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue to gather momentum. The price should find a support above 1,7500.
=> We could take a short position at 1,7650. We will put the stop loss above 1,7750 (-100 pips). The targets are 1,7500 (+150 pips) 1,7380 (+270 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances

1,7675 - 1,7785

Supports

1,7550 - 1,7500

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

USD/CAD - US Dollar Canadian Dollar

1,0676. USD CAD is in a range between 1,0540 and 1,0770. 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 1,0540 / 1,0770 range. We won't take a position.

Resistances

1,0730 - 1,0770

Supports

1,0650 - 1,0540

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

USD/CHF - Dollar Swiss Franc

1,1155. 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 rises. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H, 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 1,1150. We will put the stop loss below 1,1080 (-70 pips). The targets are 1,1250 (+100 pips) 1,1300 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,1160 - 1,1200

Supports

1,1090 - 1,1020

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

USD/JPY - Dollar Yen

106,31. USD JPY broke 107,60 support. USD JPY is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The downtrend should continue on 105,00 support.
=> We could take a short position at 106,50. We will put the stop loss above 107,00 (-50 pips). The targets are 105,00 (+150 pips) 104,00 (+250 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

106,50 - 107,40

Supports

106,20 - 105,70

more information on USD/JPY - Dollar Yen Click Here

Published on  Fri, Sep 5 2008, 10:29 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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