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Currency Majors Technical Analysis

Tue, Nov 4 2008, 13:43 GMT

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American Session

EUR/USD - Euro Dollar

1,2808. EUR USD is in an downtrend directed by daily exponential moving averages. EUR USD is in a consolidation after the last bearish movement. EUR USD is in a range between 1,2525 and 1,2900. 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 price should find a resistance below 1,2900 (92 pips).
=> We could take a short position at 1,2810. We will put the stop loss above 1,2900 (-90 pips). The targets are 1,2700 (+110 pips, risk/reward 1:1.2), 1,2525 (+285 pips, risk/reward 1:3.2) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,2900 - 1,3020

Supports

1,2700 - 1,2525

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,5930. GBP USD is in an downtrend directed by daily exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The price is just bellow 1,5960 resistance. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP USD. The price should find a resistance below 1,5975 (45 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 1,5930. We will put the stop loss above 1,6000 (-70 pips). The targets are 1,5680 (+250 pips, risk/reward 1:3.6), 1,5500 (+430 pips, risk/reward 1:6.1) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,5970 - 1,6200

Supports

1,5800 - 1,5600

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

USD/CAD - US Dollar Canadian Dollar

1,1670. USD CAD is in an downtrend directed by 1H exponential moving averages. The volatility rises. Bollinger bands are deviated. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The downtrend should continue on 1,1390 support (280 pips).
=> We could take a short position at 1,1680. We will put the stop loss above 1,1750 (-70 pips). The targets are 1,1570 (+110 pips, risk/reward 1:1.6), 1,1390 (+290 pips, risk/reward 1:4.1) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,1750 - 1,1895

Supports

1,1650 - 1,1570

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

USD/CHF - Dollar Swiss Franc

1,1662. USD CHF is in an uptrend supported by daily exponential moving averages. USD CHF is in a consolidation after the last bullish movement. The volatility is high. Oscillators are neutral. The consolidation should continue. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

1,1710 - 1,1805

Supports

1,1590 - 1,1475

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

USD/JPY - Dollar Yen

99,37. USD JPY is in a consolidation after the last bullish movement. The volatility is low. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The consolidation should continue. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

99,70 - 100,30

Supports

98,30 - 96,30

more information on USD/JPY - Dollar Yen Click Here

Published on  Tue, Nov 4 2008, 13:44 GMT

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