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Currency Majors Technical Analysis

Wed, Oct 1 2008, 12:34 GMT

Mataf.net

American Session

EUR/USD - Euro Dollar

1,4025. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a resistance below 1,4150. The downtrend should continue to gather momentum.
=> We could take a short position at 1,4080. We will put the stop loss above 1,4180 (-100 pips). The targets are 1,3950 (+130 pips) 1,3900 (+180 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,4080 - 1,4180

Supports

1,4000 - 1,3950

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,7749. GBP USD is in an downtrend directed by 1H exponential moving averages. The volatility is low. ForexTrend 1H (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 support.
=> We could take a short position at 1,7760. We will put the stop loss above 1,7900 (-140 pips). The targets are 1,7600 (+160 pips) 1,7500 (+260 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,7900 - 1,7980

Supports

1,7730 - 1,7600

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

USD/CAD - US Dollar Canadian Dollar

1,0602. 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. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. 1H ForexSto (Modified Stochastic) crosses and gives a positive signal. The price should find a support above 1,0550. The consolidation should continue. The price should continue to move in Bollinger bands. If the resistance is broken then the target will be 1,0800 (200 pips).
We are waiting for a break of the resistance to take a long position.

Resistances

1,0660 - 1,0710

Supports

1,0550 - 1,0450

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

USD/CHF - Dollar Swiss Franc

1,1232. USD CHF is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The consolidation should continue. The price should continue to move in 1,1150 / 1,1250 range. If the resistance is broken then the target will be 1,1400.
We are waiting for a break of the resistance to take a long position.

Resistances

1,1250 - 1,1325

Supports

1,1150 - 1,1090

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

USD/JPY - Dollar Yen

106,24. USD JPY is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in Bollinger bands. If the support is broken then the target will be 104,00. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

106,50 - 106,90

Supports

105,75 - 105,00

more information on USD/JPY - Dollar Yen Click Here

Published on  Wed, Oct 1 2008, 12:35 GMT