Currency Majors Technical Analysis
| Jan 06, 2008 07:00PM ET
Asian Session
EUR/USD - Euro Dollar
1,4690. 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 decreases. Bollinger bands are tightened. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.
Resistances
1,4730 - 1,4760
Supports
1,4665 - 1,4600
GBP/USD - British Pound Dollar
1,9695. GBP USD is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are flat. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum. The price should find a resistance below 1,9750.
=> We could take a short position at 1,9715. We will put the stop loss above 1,9755 (-40 pips). The targets are 1,9600 (+115 pips) 1,9500 (+215 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
1,9730 - 1,9750
Supports
1,9680 - 1,9650
AUD/USD - Australian Dollar US Dollar
0,8717. AUD USD broke 0,8750 support. AUD USD is in a consolidation after the last bearish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on AUD USD. The price should find a resistance below 0,8750. The downtrend should continue to gather momentum.
=> We could take a short position at 0,8725. We will put the stop loss above 0,8760 (-35 pips). The targets are 0,8650 (+75 pips) 0,8600 (+125 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
Resistances
0,8750 - 0,8790
Supports
0,8700 - 0,8640
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EUR/AUD - Euro Australian Dollar
1,6824. EUR AUD is in a consolidation after the last bullish movement. There is an horizontal range between 1,6790 and 1,6930. Support and resistance are given by Bollinger bands. The volatility is high. Bollinger bands are flat. Oscillators are neutral. The price should continue to move in Bollinger bands. We won't take a position.
Resistances
1,6930 - 1,6950
Supports
1,6790 - 1,6680
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