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Currency Majors Technical Analysis

Fri, Nov 21 2008, 07:03 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

1,2524. EUR USD is in an downtrend directed by daily exponential moving averages. EUR USD is in a consolidation after the last bearish movement. Bollinger bands are flat. ForexTrend 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 1,2390 (134 pips). If the support is broken then the target will be 1,1950 (574 pips).
We are waiting for a break of the support to take a short position.

Resistances

1,2550 - 1,2590

Supports

1,2430 - 1,2330

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,4875. GBP USD is in an downtrend directed by daily exponential moving averages. GBP USD is in a consolidation after the last bearish movement. Bollinger bands are flat. 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 1,4650 (225 pips). If the support is broken then the target will be 1,4000 (875 pips).
We are waiting for a break of the support to take a short position.

Resistances

1,4895 - 1,5100

Supports

1,4715 - 1,4635

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

USD/CAD - US Dollar Canadian Dollar

1,2810. USD CAD is in an uptrend supported by 1H exponential moving averages. USD CAD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H, daily (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 1,3000 (190 pips). The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,3000 - 1,3110

Supports

1,2740 - 1,2660

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

USD/CHF - Dollar Swiss Franc

1,2285. USD CHF is in an uptrend supported by 1H exponential moving averages. The volatility decreases. Bollinger bands are tightened. 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 1,2210 (75 pips). The uptrend should continue on 1,2500 resistance (215 pips).
=> We could take a long position at 1,2250. We will put the stop loss below 1,2200 (-50 pips). The targets are 1,2400 (+150 pips, risk/reward 1:3), 1,2500 (+250 pips, risk/reward 1:5) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances

1,2290 - 1,2325

Supports

1,2210 - 1,2145

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

USD/JPY - Dollar Yen

94,99. USD JPY is in an downtrend directed by 1H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility is high. ForexTrend 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 95,70 (71 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 95,10. We will put the stop loss above 96,00 (-90 pips). The targets are 93,50 (+160 pips, risk/reward 1:1.8), 92,00 (+310 pips, risk/reward 1:3.4) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

95,00 - 96,10

Supports

93,50 - 92,00

more information on USD/JPY - Dollar Yen Click Here

Published on  Fri, Nov 21 2008, 07:05 GMT


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Legal disclaimer and risk disclosure

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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