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Currency Majors Technical Analysis
Mon, Oct 13 2008, 05:13 GMT
European Session
EUR/USD - Euro Dollar
1,3527. 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 high. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The consolidation should continue. The price should continue to move in 1,3350 / 1,3660 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,3620 - 1,3660
Supports
1,3445 - 1,3300
more information on EUR/USD - Euro Dollar Click Here
GBP/USD - British Pound Dollar
1,7025. 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 flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 1,6800 / 1,7150 range. If the support is broken then the target will be 1,6600 (425 pips).
We are waiting for a break of the support to take a short position.
Resistances
1,7150 - 1,7240
Supports
1,6890 - 1,6800
more information on GBP/USD - British Pound Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,1757. 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 high. Bollinger bands are parallel and form the trend. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The consolidation should continue. The price should continue to move in 1,1500 / 1,2000 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,1800 - 1,2000
Supports
1,1670 - 1,1500
more information on USD/CAD - US Dollar Canadian Dollar Click Here
USD/CHF - Dollar Swiss Franc
1,1356. USD CHF broke 1,1320 resistance. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility rises. Bollinger bands are deviated. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The price should continue to move in 1,1130 / 1,1480 range. We won't take a position.
Resistances
1,1415 - 1,1485
Supports
1,1300 - 1,1230
more information on USD/CHF - Dollar Swiss Franc Click Here
USD/JPY - Dollar Yen
100,02. USD JPY is in a consolidation after the last bearish movement. USD JPY is in a range between 98,70 and 101,35. The volatility is high. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.
Resistances
100,85 - 101,35
Supports
99,30 - 98,70
more information on USD/JPY - Dollar Yen Click Here
Published on Mon, Oct 13 2008, 05:14 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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eurusd, usdcad, eurgbp, usdchf
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