Currency Majors Technical Analysis
| Jan 28, 2008 07:00PM ET
Asian Session
EUR/USD - Euro Dollar
1,4776. EUR USD is in a consolidation after the last bullish movement. EUR USD is in a range between 1,4660 and 1,4800. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The consolidation should continue. The price should find a resistance below 1,4800. If the resistance is broken then the target will be 1,4900 (125 pips).
Resistances
1,4800 - 1,4900
Supports
1,4750 - 1,4670
GBP/USD - British Pound Dollar
1,9894. GBP USD is in an uptrend supported by 1H exponential moving averages. The volatility is low. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP USD. The uptrend should continue to gather momentum. The price should find a resistance below 1,9950 (50 pips).
Resistances
1,9920 - 1,9950
Supports
1,9840 - 1,9800
GBP/JPY - British Pound Yen
213,09. GBP JPY is in a range between 209,50 and 214,00. GBP JPY 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 bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP JPY. The price should continue to move in 209,50 / 214,00 range. We won't take a position.
Resistances
213,30 - 214,00
Supports
212,00 - 210,90
USD/CAD - US Dollar Canadian Dollar
0,9979. USD CAD is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The downtrend should continue to gather momentum. The target is expected at 0,9880 (100 pips).
Resistances
1,0010 - 1,0060
Supports
0,9960 - 0,9880
EUR/CAD - Euro Canadian Dollar
1,4742. EUR CAD is in an uptrend which support is 1,4670 and resistance is 1,4970. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum. The price should find a support above 1,4650 (90 pips).
Resistances
1,4790 - 1,4850
Supports
1,4730 - 1,4670
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