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Currency Majors Technical Analysis
Mon, Oct 6 2008, 12:54 GMT
American Session
EUR/USD - Euro Dollar
1,3598. 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. 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 1,3610. We will put the stop loss above 1,3700 (-90 pips). The targets are 1,3475 (+135 pips, risk/reward 1:1.5), 1,3350 (+260 pips, risk/reward 1:2.9) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.
Resistances
1,3660 - 1,3785
Supports
1,3550 - 1,3475
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,7592. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The price is just above 1,7550 support. 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 price should find a support above 1,7550 (42 pips). If the support is broken then the target will be 1,7280 (312 pips).
We are waiting for a break of the support to take a short position.
Resistances
1,7650 - 1,7705
Supports
1,7550 - 1,7425
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,0900. USD CAD is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The uptrend should continue to gather momentum.
=> We could take a long position at 1,0880. We will put the stop loss below 1,0820 (-60 pips). The targets are 1,0950 (+70 pips, risk/reward 1:1.2), 1,1030 (+150 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
1,0925 - 1,0950
Supports
1,0870 - 1,0830
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/CHF - Dollar Swiss Franc
1,1411. USD CHF is in an uptrend supported by 1H exponential moving averages. The volatility rises. Bollinger bands are deviated. 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 to gather momentum.
=> We could take a long position at 1,1400. We will put the stop loss below 1,1310 (-90 pips). The targets are 1,1490 (+90 pips, risk/reward 1:1), 1,1540 (+140 pips, risk/reward 1:1.6) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,1450 - 1,1490
Supports
1,1385 - 1,1250
more information on USD/CHF - Dollar Swiss Franc Click Here
USD/JPY - Dollar Yen
103,26. USD JPY broke 104,85 support. USD JPY is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The price should find a support above 103,00 (26 pips). The consolidation should continue. If the support is broken then the target will be 99,00 (426 pips).
We are waiting for a break of the support to take a short position.
Resistances
103,50 - 104,85
Supports
103,00 - 102,50
more information on USD/JPY - Dollar Yen Click Here
Published on Mon, Oct 6 2008, 12:54 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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