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Currency Majors Technical Analysis

Tue, Apr 21 2009, 05:46 GMT

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European Session

EUR/USD - Euro Dollar

1,2950. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a resistance below 1,3000 (50 pips). The downtrend should continue to gather momentum.

Resistances

1,2950 - 1,3020

Supports

1,2890 - 1,2800

GBP/USD - British Pound Dollar

1,4557. GBP USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The consolidation should continue. The price should continue to move in Bollinger bands. The price should find a support above 1,4470 (87 pips). If the support breaks then the target will be 1,4250 (307 pips).

Resistances

1,4590 - 1,4700

Supports

1,4470 - 1,4360

USD/CHF - Dollar Swiss Franc

1,1678. 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 flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should continue to move in Bollinger bands.

Resistances

1,1745 - 1,1775

Supports

1,1670 - 1,1640

USD/CAD - US Dollar Canadian Dollar

1,2376. USD CAD 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. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a resistance below 1,2425 (49 pips). The consolidation should continue.

Resistances

1,2430 - 1,2485

Supports

1,2320 - 1,2180

USD/JPY - Dollar Yen

98,36. USD JPY 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. The consolidation should continue. The price should continue to move in 97,65 / 98,60 range.

Resistances

98,65 - 99,65

Supports

98,00 - 97,65

Published on  Tue, Apr 21 2009, 05:47 GMT

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