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Currency Majors Technical Analysis

Mon, Oct 13 2008, 05:13 GMT

Mataf.net


Mataf.net

More technical analysis about: EUR/USD, USD/CHF, USD/JPY, GBP/USD, AUD/USD, USD/CAD, EUR/CHF, EUR/JPY, EUR/GBP, EUR/AUD, EUR/CAD

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


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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.

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