Currency Majors Technical Analysis

Thu, Apr 3 2008, 05:04 GMT

Mataf.net

European Session

EUR/USD - Euro Dollar

1,5640. EUR USD is in a consolidation after the last bearish movement. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. The price should continue to move in Bollinger bands. If the resistance is broken then the target will be 1,5900.

Resistances

1,5700 - 1,5740

Supports

1,5630 - 1,5600

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9868. GBP USD is in a consolidation after the last bullish movement. GBP 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 1,9740 / 1,9900 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9900 - 1,9930

Supports

1,9840 - 1,9775

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

USD/CAD - US Dollar Canadian Dollar

1,0141. USD CAD is in a range between 1,0130 and 1,0300. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Oscillators are neutral. The price should find a support above 1,0130. If the support is broken then the target will be 1,0000 (140 pips).

Resistances

1,0175 - 1,0215

Supports

1,0130 - 1,0100

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

USD/CHF - Dollar Swiss Franc

1,0142. USD CHF 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. The price should find a resistance below 1,0165. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0165 - 1,0250

Supports

1,0080 - 1,0000

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

USD/JPY - Dollar Yen

102,73. 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 decreases. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD JPY. The uptrend should continue on 103,50 resistance.

Resistances

102,85 - 103,50

Supports

102,20 - 101,50

more information on USD/JPY - Dollar Yen Click Here