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Currency Majors Technical Analysis

Thu, Nov 20 2008, 06:54 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

1,2506. EUR USD broke 1,2590 support. EUR USD is in a consolidation after the last bearish movement. The volatility is high. 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 price should find a support above 1,2450 (56 pips). The consolidation should continue. If the support is broken then the target will be 1,2330 (176 pips). We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,2590 - 1,2690

Supports

1,2445 - 1,2330

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,4956. GBP USD is in a range between 1,4900 and 1,5090. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a support above 1,4900 (56 pips). The price should continue to move in Bollinger bands. If the support is broken then the target will be 1,4800 (156 pips). We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5000 - 1,5095

Supports

1,4900 - 1,4800

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

USD/CAD - US Dollar Canadian Dollar

1,2557. USD CAD 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. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a support above 1,2460 (97 pips). The uptrend should continue on 1,3000 resistance (443 pips).
=> We could take a long position at 1,2550. We will put the stop loss below 1,2450 (-100 pips). The targets are 1,2725 (+175 pips, risk/reward 1:1.8), 1,2800 (+250 pips, risk/reward 1:2.5) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,2565 - 1,2630

Supports

1,2465 - 1,2415

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

USD/CHF - Dollar Swiss Franc

1,2118. 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 1,2050 (68 pips). The uptrend should continue to gather momentum. The target is expected at 1,2500 (382 pips).
=> We could take a long position at 1,2110. We will put the stop loss below 1,2050 (-60 pips). The targets are 1,2200 (+90 pips, risk/reward 1:1.5), 1,2270 (+160 pips, risk/reward 1:2.7) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,2150 - 1,2200

Supports

1,2070 - 1,1990

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

USD/JPY - Dollar Yen

95,07. USD JPY broke 96,00 support. USD JPY is in an downtrend directed by 15min exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum. The price should find a support above 94,50 (57 pips). If the support is broken then the target will be 91,00 (407 pips).
=> We could take a short position at 95,20. We will put the stop loss above 95,70 (-50 pips). The targets are 92,50 (+270 pips, risk/reward 1:5.4), 91,00 (+420 pips, risk/reward 1:8.4) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,9540 - 1,9610

Supports

1,9450 - 1,9250

more information on USD/JPY - Dollar Yen Click Here

Published on  Thu, Nov 20 2008, 06:55 GMT


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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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