Currency Majors Technical Analysis
| Jan 08, 2008 07:00PM ET
Asian Session
EUR/USD - Euro Dollar
1,4663. EUR USD is in a consolidation after the last bearish movement. EUR USD is in a range between 1,4660 and 1,4770. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility rises. Bollinger bands are deviated. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The consolidation should continue. The price should find a support above 1,4650 / 1,4660. If the support is broken then the target will be 1,4550. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,4700 - 1,4735
Supports
1,4660 - 1,4650
AUD/USD - Australian Dollar US Dollar
0,8834. AUD USD is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The consolidation should continue. The price should continue to move in Bollinger bands. We won't take a position.
Resistances
0,8850 - 0,8900
Supports
0,8790 - 0,8750
EUR/AUD - Euro Australian Dollar
1,6607. EUR AUD is in a consolidation after the last bearish movement. EUR AUD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should find a support above 1,6600. We won't take a position.
Resistances
1,6675 - 1,6740
Supports
1,6600 - 1,6520
GBP/USD - British Pound Dollar
1,9587. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on GBP USD. The downtrend should continue on 1,9500 (85 pips) support.
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Resistances
1,9645 - 1,9660
Supports
1,9550 - 1,9500
USD/CAD - US Dollar Canadian Dollar
1,0097. USD CAD broke 1,0070 resistance. USD CAD is in an uptrend supported by 1H exponential moving averages. The volatility rises. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on USD CAD. The uptrend should continue on 1,0200 (100 pips) resistance.
Resistances
1,0120 - 1,0200
Supports
1,0070 - 1,0030
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