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Currency Majors Technical Analysis
Thu, Oct 2 2008, 05:24 GMT
European Session
EUR/USD - Euro Dollar
1,3949. 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 1,3970. We will put the stop loss above 1,4060 (-90 pips). The targets are 1,3880 (+90 pips) 1,3850 (+120 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,4050 - 1,4120
Supports
1,3925 - 1,3880
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,7704. GBP USD is in an downtrend directed by 1H exponential moving averages. The volatility is low. 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 to gather momentum.
=> We could take a short position at 1,7700. We will put the stop loss above 1,7820 (-120 pips). The targets are 1,7580 (+120 pips) 1,7500 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,7730 - 1,7820
Supports
1,7650 - 1,7580
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,0638. 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. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,0660. The consolidation should continue. If the resistance is broken then the target will be 1,0800.
We are waiting for a break of the resistance to take a long position.
Resistances
1,0660 - 1,0680
Supports
1,0615 - 1,0550
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/CHF - Dollar Swiss Franc
1,1276. USD CHF is in an uptrend supported by 1H exponential moving averages. The volatility is low. Bollinger bands are parallel and form the trend. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The price should find a resistance below 1,1300. The consolidation should continue. If the resistance is broken then the target will be 1,1400. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,1300 - 1,1400
Supports
1,1240 - 1,1150
more information on USD/CHF - Dollar Swiss Franc Click Here
USD/JPY - Dollar Yen
105,83. There is an horizontal range between 105,60 and 106,30. 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. If the support is broken then the target will be 104,20. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
106,50 - 106,90
Supports
105,50 - 104,90
more information on USD/JPY - Dollar Yen Click Here
Published on Thu, Oct 2 2008, 05:25 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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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.Related reports
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