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Currency Majors Technical Analysis

Wed, Nov 19 2008, 08:34 GMT

Mataf.net

European Session

EUR/USD - Euro Dollar

1,2636. There is an horizontal range between 1,2585 and 1,2675. Support and resistance are given by Bollinger bands. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

1,2650 - 1,2850

Supports

1,2570 - 1,2390

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,4988. GBP USD is in an downtrend directed by 4H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,5060 (72 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 1,4990. We will put the stop loss above 1,5100 (-110 pips). The targets are 1,4780 (+210 pips, risk/reward 1:1.9), 1,4600 (+390 pips, risk/reward 1:3.5) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,5060 - 1,5190

Supports

1,4780 - 1,4660

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

USD/CAD - US Dollar Canadian Dollar

1,2348. USD CAD is in a range between 1,2090 and 1,2420. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,2420 (72 pips). The price should continue to move in Bollinger bands. If the resistance is broken then the target will be 1,2800 (452 pips).
We are waiting for a break of the resistance to take a long position.

Resistances

1,2420 - 1,2500

Supports

1,2290 - 1,2090

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

USD/CHF - Dollar Swiss Franc

1,2069. USD CHF broke 1,2000 resistance. USD CHF is in an uptrend supported by 1H exponential moving averages. The volatility rises. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The uptrend should continue to gather momentum.
=> We could take a long position at 1,2060. We will put the stop loss below 1,2010 (-50 pips). The targets are 1,2150 (+90 pips, risk/reward 1:1.8), 1,2200 (+140 pips, risk/reward 1:2.8) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances

1,2075 - 1,2150

Supports

1,2010 - 1,1970

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

USD/JPY - Dollar Yen

96,71. There is an horizontal range between 96,15 and 97,20. Support and resistance are given by Bollinger bands. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

97,40 - 96,40

Supports

96,15 - 94,50

more information on USD/JPY - Dollar Yen Click Here

Published on  Wed, Nov 19 2008, 08:36 GMT