Currency Majors Technical Analysis

Wed, Apr 9 2008, 05:05 GMT

Mataf.net

European Session

EUR/USD - Euro Dollar

1,5703. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are tightened. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. The price should find a support above 1,5700 / 1,5680. If the support is broken then the target will be 1,5650. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5730 - 1,5770

Supports

1,5680 - 1,5650

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

1,9658. GBP USD is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue to gather momentum. The target is expected at 1,9400 (260 pips).

Resistances

1,9710 - 1,9750

Supports

1,9650 - 1,9575

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

USD/CAD - US Dollar Canadian Dollar

1,0147. There is an horizontal range between 1,0120 and 1,0160. Support and resistance are given by Bollinger bands. USD CAD 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 Bollinger bands. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0160 - 1,0210

Supports

1,0120 - 1,0100

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

USD/CHF - Dollar Swiss Franc

1,0138. USD CHF is in a range between 1,0070 and 1,0165. USD CHF moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Oscillators are neutral. The price should continue to move in 1,0070 / 1,0165 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0165 - 1,0220

Supports

1,0120 - 1,0070

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

USD/JPY - Dollar Yen

102,33. USD JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in 101,70 / 103,00 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

102,90 - 103,10

Supports

102,20 - 101,70

more information on USD/JPY - Dollar Yen Click Here