Currency Majors Technical Analysis

Fri, Apr 4 2008, 12:11 GMT

Mataf.net

American Session

EUR/USD - Euro Dollar

1,5717. EUR USD broke 1,5700 resistance. EUR USD is in a consolidation after the last bullish movement. Bollinger bands are flat. ForexTrend 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 1,5740. If the resistance is broken then the target will be 1,5850.

Resistances

1,5740 - 1,5850

Supports

1,5700 - 1,5620

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9999. GBP USD is in a consolidation after the last bullish movement. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. The uptrend should continue on 2,0070 (70 pips) resistance.

Resistances

2,0035 - 2,0070

Supports

1,9970 - 1,9930

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

USD/CAD - US Dollar Canadian Dollar

1,0064. 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 decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue on 0,9920 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) 0,9920 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,0090 - 1,0135

Supports

1,0030 - 0,9990

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

USD/CHF - Dollar Swiss Franc

1,0092. USD CHF is in a range between 1,0065 and 1,0160. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). 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. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0130 - 1,0165

Supports

1,0070 - 1,0000

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

USD/JPY - Dollar Yen

102,25. 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 is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

102,70 - 103,00

Supports

102,15 - 101,50

more information on USD/JPY - Dollar Yen Click Here