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Currency Majors Technical Analysis
Thu, Oct 9 2008, 12:50 GMT
American Session
EUR/USD - Euro Dollar
1,3706. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 1,3590 / 1,3800 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,3800 - 1,3850
Supports
1,3640 - 1,3590
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,7347. 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. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP USD. The price should find a resistance below 1,7400 (53 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 1,7350. We will put the stop loss above 1,7410 (-60 pips). The targets are 1,7200 (+150 pips, risk/reward 1:2.5), 1,7100 (+250 pips, risk/reward 1:4.2) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,7400 - 1,7515
Supports
1,7200 - 1,7070
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,1241. 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 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a support above 1,1190 (51 pips). The uptrend should continue to gather momentum.
=> We could take a long position at 1,1220. We will put the stop loss below 1,1170 (-50 pips). The targets are 1,1300 (+80 pips, risk/reward 1:1.6), 1,1380 (+160 pips, risk/reward 1:3.2) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,1290 - 1,1380
Supports
1,1190 - 1,1080
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/CHF - Dollar Swiss Franc
1,1296. USD CHF is in a consolidation after the last bearish movement. USD CHF 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
1,1315 - 1,1490
Supports
1,1220 - 1,1190
more information on USD/CHF - Dollar Swiss Franc Click Here
USD/JPY - Dollar Yen
100,78. USD JPY is in an downtrend directed by 1H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 101,40 (62 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 100,80. We will put the stop loss above 101,50 (-70 pips). The targets are 100,00 (+80 pips, risk/reward 1:1.1), 99,00 (+180 pips, risk/reward 1:2.6) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
Resistances
101,35 - 101,90
Supports
100,40 - 99,00
more information on USD/JPY - Dollar Yen Click Here
Published on Thu, Oct 9 2008, 12:52 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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