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Currency Majors Technical Analysis
Fri, Oct 3 2008, 12:15 GMT
American Session
EUR/USD - Euro Dollar
1,3842. 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. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,3950 (108 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 1,3850. We will put the stop loss above 1,3960 (-110 pips). The targets are 1,3760 (+90 pips, risk/reward 1:0.8), 1,3580 (+270 pips, risk/reward 1:2.5) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,3900 - 1,4000
Supports
1,3760 - 1,3680
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,7669. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 1,7550 / 1,7850 range. If the support is broken then the target will be 1,7270 (399 pips).
We are waiting for a break of the support to take a short position.
Resistances
1,7735 - 1,7865
Supports
1,7640 - 1,7580
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,0772. 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 (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a resistance below 1,0810 (38 pips). The consolidation should continue. If the resistance is broken then the target will be 1,0900 (128 pips).
We are waiting for a break of the resistance to take a long position.
Resistances
1,0810 - 1,0900
Supports
1,0740 - 1,0680
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/CHF - Dollar Swiss Franc
1,1312. USD CHF is in an uptrend supported by 1H exponential moving averages. USD CHF is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,1410 (98 pips). The consolidation should continue. We won't take a position.
Resistances
1,1355 - 1,1410
Supports
1,1250 - 1,1225
more information on USD/CHF - Dollar Swiss Franc Click Here
USD/JPY - Dollar Yen
105,03. 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.
Resistances
105,50 - 106,50
Supports
105,00 - 103,50
more information on USD/JPY - Dollar Yen Click Here
Published on Fri, Oct 3 2008, 12:16 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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