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Currency Majors Technical Analysis

Thu, Nov 13 2008, 06:04 GMT

Mataf.net

European Session

EUR/USD - Euro Dollar

1,2469. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The downtrend should continue on 1,2350 support (119 pips). If the support is broken then the target will be 1,2100 (369 pips).
=> We could take a short position at 1,2470. We will put the stop loss above 1,2525 (-55 pips). The targets are 1,2350 (+120 pips, risk/reward 1:2.2), 1,2150 (+320 pips, risk/reward 1:5.8) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,2510 - 1,2635

Supports

1,2440 - 1,2350

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,4890. 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 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue to gather momentum.
=> We could take a short position at 1,4890. We will put the stop loss above 1,5010 (-120 pips). The targets are 1,4700 (+190 pips, risk/reward 1:1.6), 1,4450 (+440 pips, risk/reward 1:3.7) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances

1,4980 - 1,5070

Supports

1,4840 - 1,4650

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

USD/CAD - US Dollar Canadian Dollar

1,2346. USD CAD is in an uptrend supported by 1H exponential moving averages. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a resistance below 1,2430 (84 pips). The consolidation should continue. If the resistance is broken then the target will be 1,2750 (404 pips).
We are waiting for a break of the resistance to take a long position.

Resistances

1,2420 - 1,2540

Supports

1,2260 - 1,2150

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

USD/CHF - Dollar Swiss Franc

1,1871. USD CHF is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The price should find a support above 1,1800 (71 pips). The uptrend should continue on 1,2000 resistance (129 pips). We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,1890 - 1,1925

Supports

1,1840 - 1,1800

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

USD/JPY - Dollar Yen

95,73. USD JPY is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The consolidation should continue. The price should continue to move in 94,50 / 96,10 range. If the support is broken then the target will be 92,00 (373 pips).
We are waiting for a break of the support to take a short position.

Resistances

96,10 - 97,20

Supports

94,50 - 93,50

more information on USD/JPY - Dollar Yen Click Here

Published on  Thu, Nov 13 2008, 06:05 GMT