Currency Majors Technical Analysis
| Jan 03, 2008 07:00PM ET
American Session
EUR/USD - Euro Dollar
1,4715. EUR USD is in a consolidation after the last bullish movement. There is an horizontal range between 1,4690 and 1,4765. Support and resistance are given by Bollinger bands. The volatility is high. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bullish configuration. The consolidation should continue. If the support is broken then the target will be 1,4570. If the resistance is broken then the target will be 1,5000. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,4720 - 1,4765
Supports
1,4695 - 1,4570
GBP/JPY - British Pound Yen
215,99. 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. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 217,00. The downtrend should continue to gather momentum.
=> We could take a short position at 216,00. We will put the stop loss above 217,00 (-100 pips). The targets are 214,00 (+200 pips) 212,50 (+350 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
217,00 - 217,75
Supports
214,80 - 214,00
USD/JPY - Dollar Yen
109,37. USD JPY is in an downtrend directed by 1H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 109,90. The downtrend should continue to gather momentum.
=> We could take a short position at 109,40. We will put the stop loss above 109,80 (-40 pips). The targets are 108,30 (+110 pips) 107,60 (+180 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
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Resistances
109,80 - 110,10
Supports
108,90 - 108,30
USD/CAD - US Dollar Canadian Dollar
0,9882. USD CAD is in a range between 0,9850 and 0,9960. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Oscillators are neutral. The price should continue to move in 0,9850 / 0,9960 range. We won't take a position.
Resistances
0,9910 - 0,9960
Supports
0,9870 - 0,9770
EUR/CAD - Euro Canadian Dollar
1,4531. EUR CAD is in an uptrend supported by 1H exponential moving averages. EUR CAD is in a consolidation after the last bullish movement. The volatility is low. Oscillators are neutral. The consolidation should continue. The price should continue to move in 1,4480 / 1,4690 range. If the support is broken then the target will be 1,4400.
Resistances
1,4575 - 1,4640
Supports
1,4490 - 1,4400
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