Currency Majors Technical Analysis

Mon, Mar 17 2008, 06:16 GMT

Mataf.net

European Session

EUR/USD - Euro Dollar

1,5829. EUR USD broke 1,5700 resistance. EUR USD is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should find a resistance below 1,5900. The price should consolidate. If the resistance is broken then the target will be 1,6000.

Resistances

1,5900 - 1,6000

Supports

1,5785 - 1,5700

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

2,0125. GBP USD broke 2,0220 support. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Bollinger bands are parallel and form the trend. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The price should find a support above 2,0100. The price should consolidate. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

2,0220 - 2,0395

Supports

2,0100 - 2,0000

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

USD/CAD - US Dollar Canadian Dollar

0,9916. USD CAD is in a range between 0,9800 and 0,9980. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Oscillators are neutral. The price should continue to move in 0,9800 / 0,9980 range. We won't take a position.

Resistances

0,9950 - 0,9980

Supports

0,9885 - 0,9800

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

USD/CHF - Dollar Swiss Franc

0,9751. USD CHF broke 1,0000 support. USD CHF is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The consolidation should continue. The price should find a support above 0,9650.

Resistances

0,9790 - 0,9900

Supports

0,9700 - 0,9645

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

USD/JPY - Dollar Yen

96,98. USD JPY broke 100,00 support. USD JPY is in an downtrend directed by 1H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The price should find a support above 96,00. The consolidation should continue.

Resistances

97,50 - 98,25

Supports

96,60 - 95,80

more information on USD/JPY - Dollar Yen Click Here