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6da05881-5eec-4984-bbd2-aff8a071254b

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Currency Majors Technical Analysis

Thu, Dec 18 2008, 13:35 GMT

Mataf.net

American Session

EUR/USD - Euro Dollar

1,4626. EUR USD is in an uptrend supported by 1H exponential moving averages. The volatility is high. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The uptrend should continue on 1,4850 resistance (224 pips).
=> We could take a long position at 1,4600. We will put the stop loss below 1,4490 (-110 pips). The targets are 1,4800 (+200 pips, risk/reward 1:1.8), 1,4850 (+250 pips, risk/reward 1:2.3) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances

1,4720 - 1,4850

Supports

1,4500 - 1,4300

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,5404. GBP USD is in a range between 1,5210 and 1,5725. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

1,5510 - 1,5620

Supports

1,5350 - 1,5210

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

USD/CAD - US Dollar Canadian Dollar

1,1930. USD CAD is in an downtrend directed by 1H exponential moving averages. The volatility decreases. Bollinger bands are tightened. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The price should find a resistance below 1,1980 (50 pips). The downtrend should continue to gather momentum.
=> We could take a short position at 1,1930. We will put the stop loss above 1,2000 (-70 pips). The targets are 1,1810 (+120 pips, risk/reward 1:1.7), 1,1730 (+200 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

1,1980 - 1,2120

Supports

1,1830 - 1,1730

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

USD/CHF - Dollar Swiss Franc

1,0512. USD CHF is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The downtrend should continue to gather momentum.
=> We could take a short position at 1,0510. We will put the stop loss above 1,0620 (-110 pips). The targets are 1,0300 (+210 pips, risk/reward 1:1.9), 1,0100 (+410 pips, risk/reward 1:3.7) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 4.

Resistances

1,0550 - 1,0775

Supports

1,0420 - 1,0300

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

USD/JPY - Dollar Yen

88,41. 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. The consolidation should continue. The price should continue to move in 87,15 / 89,10 range. We won't take a position.

Resistances

89,10 - 89,70

Supports

88,00 - 87,15

more information on USD/JPY - Dollar Yen Click Here

Published on  Thu, Dec 18 2008, 13:35 GMT