Currency Majors Technical Analysis

Mon, Apr 7 2008, 05:03 GMT

Mataf.net

European Session

EUR/USD - Euro Dollar

1,5668. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in 1,5550 / 1,5760 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5700 - 1,5760

Supports

1,5650 - 1,5580

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9882. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Bollinger bands are deviated. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue to gather momentum. The target is expected at 1,9750 (140 pips).

Resistances

1,9970 - 2,0040

Supports

1,9890 - 1,9800

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

USD/CAD - US Dollar Canadian Dollar

1,0073. USD CAD is in an downtrend directed by 1H exponential moving averages. USD CAD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue on 0,9930 support.
=> We could take a short position at 1,0070. We will put the stop loss above 1,0100 (-30 pips). The targets are 0,9990 (+80 pips) 0,9930 (+140 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,0100 - 1,0120

Supports

1,0065 - 1,0020

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

USD/CHF - Dollar Swiss Franc

1,0118. The price is just bellow 1,5900 resistance. The volatility is low. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands. The price should find a support above 1,0030. If the support is broken then the target will be 0,9800.

Resistances

1,0130 - 1,0165

Supports

1,0070 - 1,0000

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

USD/JPY - Dollar Yen

102,48. USD JPY is in a consolidation after the last bullish movement. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

102,70 - 103,00

Supports

102,10 - 101,50

more information on USD/JPY - Dollar Yen Click Here