Currency Majors Technical Analysis
| Dec 18, 2007 07:00PM ET
American Session
EUR/USD - Euro Dollar
1,4396. EUR USD is in an downtrend directed by 1H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. 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. The price should find a resistance below 1,4415.
=> We could take a short position at 1,4400. We will put the stop loss above 1,4430 (-30 pips). The targets are 1,4340 (+60 pips) 1,4250 (+150 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
Resistances
1,4405 - 1,4415 - 1,4450
Supports
1,4380 - 1,4340
USD/CAD - US Dollar Canadian Dollar
1,0063. USD CAD is in a range between 1,0010 and 1,0130. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands. We won't take a position.
Resistances
1,0090 - 1,0130
Supports
1,0040 - 1,0010
EUR/CAD - Euro Canadian Dollar
1,4488. EUR CAD is in an downtrend directed by 1H exponential moving averages. EUR CAD is in a consolidation after the last bearish movement. EUR CAD is in a range between 1,4415 and 1,4600. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The consolidation should continue. The price should continue to move in 1,4415 / 1,4600 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,4530 - 1,4600
Supports
1,4450 - 1,4415
USD/JPY - Dollar Yen
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113,09. 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 rises. Bollinger bands are deviated. Oscillators are neutral. The consolidation should continue. The price should continue to move in 112,80 / 113,50 range. We won't take a position.
Resistances
113,15 - 113,55
Supports
112,80 - 112,40
GBP/JPY - British Pound Yen
226,59. GBP JPY broke 227,80 support. GBP JPY is in a consolidation after the last bearish movement. The volatility rises. Bollinger bands are deviated. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP JPY. The downtrend should continue to gather momentum. The price should find a support above 225,00 (160 pips).
=> We could take a short position at 226,60. We will put the stop loss above 227,30 (-70 pips). The targets are 225,00 (+160 pips) 224,00 (+260 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 1.
Resistances
227,00 - 227,80
Supports
226,30 - 225,00
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