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Currency Majors Technical Analysis

Wed, Dec 3 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

1,2684. EUR USD is in a range between 1,2575 and 1,2765. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 1,2575 / 1,2765 range. We won't take a position.

Resistances

1,2765 - 1,2870

Supports

1,2670 - 1,2575

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,4858. GBP USD is in a consolidation after the last bearish movement. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 1,4975 (117 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 1,4860. We will put the stop loss above 1,5000 (-140 pips). The targets are 1,4660 (+200 pips, risk/reward 1:1.4), 1,4550 (+310 pips, risk/reward 1:2.2) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,4930 - 1,5070

Supports

1,4790 - 1,4660

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

USD/CAD - US Dollar Canadian Dollar

1,2515. USD CAD is in an uptrend supported by 1H exponential moving averages. Bollinger bands are parallel and form the trend. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

1,2590 - 1,2690

Supports

1,2465 - 1,2400

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

USD/CHF - Dollar Swiss Franc

1,2096. USD CHF 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 bullish configuration. The price should continue to move in 1,2000 / 1,2150 range. We won't take a position.

Resistances

1,2110 - 1,2180

Supports

1,2040 - 1,2000

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

USD/JPY - Dollar Yen

93,18. 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 low. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 93,75 (57 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 93,20. We will put the stop loss above 93,80 (-60 pips). The targets are 92,00 (+120 pips, risk/reward 1:2), 91,00 (+220 pips, risk/reward 1:3.7) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

93,75 - 94,20

Supports

93,00 - 92,65

more information on USD/JPY - Dollar Yen Click Here

Published on  Wed, Dec 3 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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