Currency Majors Technical Analysis - American Session
| Dec 20, 2007 07:00PM ET
American Session
EUR/USD - Euro Dollar
1,4374. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. EUR USD is in a range between 1,4310 and 1,4425. The volatility is high. Oscillators are neutral. The consolidation should continue. The price should continue to move in Bollinger bands. We won't take a position.
Resistances
1,4380 - 1,4425
Supports
1,4350 - 1,4310
more information on EUR/USD - Euro Dollar
USD/CAD - US Dollar Canadian Dollar
0,9966. USD CAD is in an downtrend directed by 1H exponential moving averages. The volatility is low. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The downtrend should continue to gather momentum. The price should find a support above 0,9900 (70 pips). We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
0,9995 - 1,0040
Supports
0,9955 - 0,9900
more information on USD/CAD - US Dollar Canadian Dollar
EUR/CAD - Euro Canadian Dollar
1,4313. EUR CAD is in an downtrend directed by 1H exponential moving averages. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum.
=> We could take a short position at 1,4330. We will put the stop loss above 1,4380 (-50 pips). The targets are 1,4250 (+80 pips) 1,4170 (+160 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,4360 - 1,4380
Supports
1,4300 - 1,4250
more information on EUR/CAD - Euro Canadian Dollar
USD/JPY - Dollar Yen
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113,42. USD JPY is in an uptrend supported by 4H exponential moving averages. USD JPY is in a consolidation after the last bullish movement. USD JPY is in a range between 112,80 and 113,50. The volatility rises. Bollinger bands are deviated. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The price should continue to move in 112,80 / 113,50 range. If the resistance is broken then the target will be 114,10 (65 pips). We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
113,50 - 113,70
Supports
113,20 - 112,80
more information on USD/JPY - Dollar Yen
GBP/JPY - British Pound Yen
225,44. GBP JPY is in an downtrend directed by 1H exponential moving averages. GBP JPY is in a consolidation after the last bearish movement. The volatility decreases. 4H ForexSto (Modified Stochastic) crosses and gives a positive signal. The consolidation should continue. The price should continue to move in 223,50 / 226,00 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
225,60 - 226,10
Supports
225,00 - 223,50
more information on GBP/JPY - British Pound Yen
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