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Currency Majors Technical Analysis

Fri, Oct 10 2008, 13:41 GMT

Mataf.net

American Session

EUR/USD - Euro Dollar

1,3526. 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 decreases. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,3440 (86 pips). The consolidation should continue. If the support is broken then the target will be 1,3300 (226 pips).
We are waiting for a break of the support to take a short position.

Resistances

1,3650 - 1,3785

Supports

1,3450 - 1,3400

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,7077. 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 decreases. Bollinger bands are tightened. ForexTrend 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 resistance below 1,7150 (73 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 1,7100. We will put the stop loss above 1,7175 (-75 pips). The targets are 1,6900 (+200 pips, risk/reward 1:2.7), 1,6800 (+300 pips, risk/reward 1:4) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,7150 - 1,7400

Supports

1,6900 - 1,6800

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

USD/CAD - US Dollar Canadian Dollar

1,1727. 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, daily (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The uptrend should continue on 1,1900 resistance (173 pips).
=> We could take a long position at 1,1700. We will put the stop loss below 1,1580 (-120 pips). The targets are 1,1800 (+100 pips, risk/reward 1:0.8), 1,1900 (+200 pips, risk/reward 1:1.7) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances

1,1800 - 1,1900

Supports

1,1575 - 1,1425

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

USD/CHF - Dollar Swiss Franc

1,1181. USD CHF broke 1,1225 support. The volatility is high. Bollinger bands are parallel and form the trend. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The price should find a support above 1,1110 (71 pips). The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,1225 - 1,1350

Supports

1,1140 - 1,1110

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

USD/JPY - Dollar Yen

98,82. USD JPY is in an downtrend directed by 1H exponential moving averages. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The price should find a support above 98,70 (12 pips). If the support is broken then the target will be 96,00 (282 pips).
We are waiting for a break of the support to take a short position.

Resistances

99,70 - 100,80

Supports

98,70 - 97,80

more information on USD/JPY - Dollar Yen Click Here

Published on  Fri, Oct 10 2008, 13:41 GMT