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Currency Majors Technical Analysis

Tue, Jan 6 2009, 06:25 GMT

Mataf.net

European Session

EUR/USD - Euro Dollar

1,3544. EUR USD is in an downtrend directed by 1H exponential moving averages. The volatility is low. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The downtrend should continue on 1,3250 support (294 pips).
=> We could take a short position at 1,3550. We will put the stop loss above 1,3660 (-110 pips). The targets are 1,3300 (+250 pips, risk/reward 1:2.3), 1,3250 (+300 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

1,3225 - 1,3715

Supports

1,3500 - 1,3300

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,4603. GBP USD is in a range between 1,4380 and 1,4730. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in 1,4375 / 1,4730 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,4650 - 1,4730

Supports

1,4540 - 1,4375

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

USD/CAD - US Dollar Canadian Dollar

1,1954. USD CAD broke 1,2060 support. USD CAD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The consolidation should continue. We won't take a position.

Resistances

1,1990 - 1,2060

Supports

1,1870 - 1,1750

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

USD/CHF - Dollar Swiss Franc

1,1129. USD CHF is in an uptrend supported by 1H exponential moving averages. USD CHF is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The uptrend should continue on 1,1280 resistance (151 pips).
=> We could take a long position at 1,1100. We will put the stop loss below 1,1050 (-50 pips). The targets are 1,1240 (+140 pips, risk/reward 1:2.8), 1,1280 (+180 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

1,1170 - 1,1240

Supports

1,1050 - 1,1000

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

USD/JPY - Dollar Yen

93,12. USD JPY is in an uptrend supported by 1H exponential moving averages. USD JPY is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The price should find a support above 92,90 (22 pips). The uptrend should continue on 94,00 resistance (88 pips).
=> We could take a long position at 93,00. We will put the stop loss below 92,75 (-25 pips). The targets are 93,60 (+60 pips, risk/reward 1:2.4), 94,00 (+100 pips, risk/reward 1:4) . Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

93,50 - 94,00

Supports

92,90 - 92,30

more information on USD/JPY - Dollar Yen Click Here

Published on  Tue, Jan 6 2009, 06:25 GMT