Currency Majors Technical Analysis
| Jan 06, 2008 07:00PM ET
American Session
EUR/USD - Euro Dollar
1,4729. EUR USD is in a range between 1,4665 and 1,4830. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.
Resistances
1,4755 - 1,4830
Supports
1,4700 - 1,4650
more information on EUR/USD - Euro Dollar Click Here
GBP/JPY - British Pound Yen
215,21. 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 is high. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum. The price should find a resistance below 216,00.
=> We could take a short position at 215,30. We will put the stop loss above 216,10 (-80 pips). The targets are 213,70 (+160 pips) 211,50 (+380 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
216,00 - 216,15
Supports
214,75 - 213,70
more information on GBP/JPY - British Pound Yen Click Here
USD/JPY - Dollar Yen
109,06. 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 high. Bollinger bands are flat. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H ForexSto (Modified Stochastic) crosses and gives a negative signal. The downtrend should continue to gather momentum. The price should find a resistance below 109,60.
=> We could take a short position at 109,10. We will put the stop loss above 109,60 (-50 pips). The targets are 108,20 (+90 pips) 107,75 (+135 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
109,45 - 109,60
Supports
108,65 - 108,20
more information on USD/JPY - Dollar Yen Click Here
USD/CAD - US Dollar Canadian Dollar
0,9994. USD CAD is in a consolidation after the last bullish movement. The price is just above 0,9960 support. The volatility is low. Bollinger bands are flat. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The consolidation should continue. 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
1,0025 - 1,0070
Supports
0,9980 - 0,9960
more information on USD/CAD - US Dollar Canadian Dollar Click Here
EUR/CAD - Euro Canadian Dollar
1,4722. 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. Bollinger bands are flat. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR CAD. The uptrend should continue to gather momentum. The price should find a support above 1,4680.
=> We could take a long position at 1,4720. We will put the stop loss below 1,4660 (-60 pips). The targets are 1,4810 (+90 pips) 1,5000 (+280 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,4745 - 1,4810
Supports
1,4680 - 1,4660
more information on EUR/CAD - Euro Canadian Dollar Click Here
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