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Currency Majors Technical Analysis

Thu, Nov 20 2008, 14:30 GMT

Mataf.net

American Session

EUR/USD - Euro Dollar

1,2528. EUR USD broke 1,2590 support. EUR 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. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,2445 (83 pips). The consolidation should continue. If the support is broken then the target will be 1,2000 (528 pips).
We are waiting for a break of the support to take a short position.

Resistances

1,2600 - 1,2690

Supports

1,2445 - 1,2330

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,4847. 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 decreases. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 1,4800 / 1,5100 range. We won't take a position.

Resistances

1,5000 - 1,5095

Supports

1,4800 - 1,4670

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

USD/CAD - US Dollar Canadian Dollar

1,2670. USD CAD broke 1,2420 resistance. USD CAD is in an uptrend supported by 1H exponential moving averages. The volatility rises. Bollinger bands are deviated. 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 uptrend should continue on 1,3000 resistance (330 pips).
=> We could take a long position at 1,2650. We will put the stop loss below 1,2530 (-120 pips). The targets are 1,2820 (+170 pips, risk/reward 1:1.4), 1,3000 (+350 pips, risk/reward 1:2.9) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,2700 - 1,2820

Supports

1,2630 - 1,2515

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

USD/CHF - Dollar Swiss Franc

1,2192. USD CHF is in an uptrend supported by 1H exponential moving averages. The volatility rises. Bollinger bands are deviated. 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 price should find a support above 1,2100 (92 pips). The uptrend should continue on 1,2500 resistance (308 pips).
=> We could take a long position at 1,2180. We will put the stop loss below 1,2090 (-90 pips). The targets are 1,2300 (+120 pips, risk/reward 1:1.3), 1,2500 (+320 pips, risk/reward 1:3.6) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,2230 - 1,2300

Supports

1,2150 - 1,2100

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

USD/JPY - Dollar Yen

95,21. USD JPY broke 96,00 support. 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 price should find a resistance below 96,00 (79 pips). The downtrend should continue on 93,00 support (221 pips).
=> We could take a short position at 95,30. We will put the stop loss above 96,10 (-80 pips). The targets are 94,50 (+80 pips, risk/reward 1:1), 93,00 (+230 pips, risk/reward 1:2.9) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

95,90 - 96,20

Supports

95,00 - 94,50

more information on USD/JPY - Dollar Yen Click Here

Published on  Thu, Nov 20 2008, 14:30 GMT