Currency Majors Technical Analysis
| Jan 16, 2008 07:00PM ET
American Session
EUR/USD - Euro Dollar
1,4661. EUR USD is in a consolidation after the last bearish movement. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on EUR USD. The consolidation should continue. The price should continue to move in Bollinger bands. The price should find a support above 1,4600. If the support is broken then the target will be 1,4400. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,4700 - 1,4770
Supports
1,4630 - 1,4600
more information on EUR/USD - Euro Dollar Click Here
USD/CAD - US Dollar Canadian Dollar
1,0239. USD CAD is in an uptrend supported by 1H exponential moving averages. The volatility is low. Bollinger bands are flat. ForexTrend 4H (Mataf Trend Indicator) is in a bullish configuration. The uptrend should continue on 1,0450 resistance.
Resistances
1,0250 - 1,0280
Supports
1,0200 - 1,0140
more information on USD/CAD - US Dollar Canadian Dollar Click Here
EUR/CAD - Euro Canadian Dollar
1,5020. EUR CAD is in an uptrend supported by 4H exponential moving averages. EUR CAD is in a consolidation after the last bullish movement. EUR CAD is in a range between 1,4900 and 1,5200. 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
1,5060 - 1,5200
Supports
1,4990 - 1,4900
more information on EUR/CAD - Euro Canadian Dollar Click Here
GBP/JPY - British Pound Yen
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211,12. GBP JPY is in an downtrend directed by 4H exponential moving averages. GBP JPY is in a consolidation after the last bearish movement. The volatility is high. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should continue to move in 207,00 / 212,70 range. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
212,00 - 212,70
Supports
209,50 - 207,00
more information on GBP/JPY - British Pound Yen Click Here
USD/JPY - Dollar Yen
107,28. USD JPY is in an downtrend directed by 4H exponential moving averages. USD JPY is in a consolidation after the last bearish movement. USD JPY is in a range between 106,00 and 107,90. The volatility decreases. Bollinger bands are flat. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a resistance below 107,90. The downtrend should continue to gather momentum.
=> We could take a short position at 107,50. We will put the stop loss above 108,00 (-50 pips). The targets are 106,50 (+100 pips) 106,00 (+150 pips) 105,50 (+200 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.
Resistances
107,90 - 108,30
Supports
106,60 - 106,00
more information on USD/JPY - Dollar Yen Click Here
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