Currency Majors Technical Analysis

Tue, Mar 25 2008, 06:24 GMT

Mataf.net

European Session

EUR/USD - Euro Dollar

1,5564. EUR USD broke 1,5475 resistance. EUR USD is in a consolidation after the last bullish movement. The volatility rises. Bollinger bands are deviated. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should find a resistance below 1,5590. If the resistance is broken then the target will be 1,5800.

Resistances

1,5570 - 1,5590

Supports

1,5520 - 1,5450

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9909. GBP USD is in a range between 1,9750 and 1,9930. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should continue to move in 1,9750 / 1,9950 range. If the resistance is broken then the target will be 2,0300. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9940 - 1,9970

Supports

1,9840 - 1,9800

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

USD/CAD - US Dollar Canadian Dollar

1,0159. USD CAD is in a consolidation after the last bullish movement. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are tightened. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The price should find a support above 1,0130. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0220 - 1,0280

Supports

1,0130 - 1,0065

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

USD/CHF - Dollar Swiss Franc

1,0130. USD CHF is in an uptrend supported by 1H exponential moving averages. The price is just bellow 1,0250 resistance. The volatility is high. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. 4H ForexSto (Modified Stochastic) crosses and gives a negative signal. The uptrend seems to be finished. The trend should reverse. The target is expected at 0,9900.
=> We could take a short position at 1,0140. We will put the stop loss above 1,0180 (-40 pips). The targets are 1,0060 (+80 pips) 0,9900 (+240 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,0180 - 1,0250

Supports

1,0100 - 1,0060

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

USD/JPY - Dollar Yen

100,17. USD JPY is in an downtrend directed by 4H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility decreases. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 101,00. The downtrend should resume.
=> We could take a short position at 100,30. We will put the stop loss above 100,80 (-50 pips). The targets are 99,50 (+80 pips) 99,00 (+130 pips) 98,00 (+230 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

100,60 - 101,00

Supports

100,00 - 99,10

more information on USD/JPY - Dollar Yen Click Here