Currency Majors Technical Analysis

Fri, Mar 21 2008, 06:07 GMT

Mataf.net

European Session

EUR/USD - Euro Dollar

1,5440. EUR USD is in an downtrend directed by 15min exponential moving averages. EUR USD 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. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The price should find a support above 1,5400. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5470 - 1,5550

Supports

1,5400 - 1,5350

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9850. GBP USD 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 price should find a resistance below 1,9750. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9880 - 1,9960

Supports

1,9820 - 1,9750

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

USD/CAD - US Dollar Canadian Dollar

1,0233. USD CAD 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. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The price should find a resistance below 1,0350.
=> We could take a long position at 1,0210. We will put the stop loss below 1,0180 (-30 pips). The targets are 1,0310 (+100 pips) 1,0350 (+140 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,0295 - 1,0310

Supports

1,0210 - 1,0170

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

USD/CHF - Dollar Swiss Franc

1,0087. USD CHF broke 1,0030 resistance. USD CHF is in a consolidation after the last bullish movement. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The price should find a resistance below 1,0240. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0170 - 1,0240

Supports

1,0050 - 1,0025

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

USD/JPY - Dollar Yen

99,68. 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 is low. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 100,00. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

100,00 - 101,10

Supports

99,00 - 98,50

more information on USD/JPY - Dollar Yen Click Here