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Currency Majors Technical Analysis

Thu, Jan 29 2009, 06:48 GMT

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European Session

EUR/USD - Euro Dollar

1,3108. EUR USD is in a consolidation after the last bullish movement. EUR USD is in a range between 1,3080 and 1,3300. The volatility is high. ForexTrend 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 1,3080 (28 pips). If the support is broken then the target will be 1,2930 (178 pips).

Resistances

1,3200 - 1,3300

Supports

1,3080 - 1,2930

GBP/USD - British Pound Dollar

1,4134. GBP USD is in a consolidation after the last bullish movement. The volatility rises. Bollinger bands are deviated. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a support above 1,4040 (94 pips). If the support is broken then the target will be 1,3500 (634 pips).

Resistances

1,4195 - 1,9360

Supports

1,4040 - 1,3820

USD/CAD - US Dollar Canadian Dollar

1,2186. USD CAD is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are flat. Oscillators are neutral. The price should find a resistance below 1,2250 (64 pips). The consolidation should continue.

Resistances

1,2200 - 1,2250

Supports

1,2150 - 1,2035

USD/CHF - Dollar Swiss Franc

1,1544. USD CHF broke 1,1460 resistance. USD CHF is in a consolidation after the last bullish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CHF. The price should find a support above 1,1475 (69 pips). The uptrend should continue on 1,1680 resistance (136 pips).

Resistances

1,1575 - 1,1620

Supports

1,1505 - 1,1475

USD/JPY - Dollar Yen

89,94. USD JPY broke 89,65 resistance. USD JPY is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should continue to move in 89,60 / 90,60 range.

Resistances

90,00 - 90,65

Supports

89,65 - 88,90

Published on  Thu, Jan 29 2009, 06:49 GMT

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