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Currency Majors Technical Analysis

Published 01/30/2008, 07:00 PM

European Session

EUR/USD - Euro Dollar

1,4880. EUR USD is in an uptrend supported by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. ForexTrend 1H, daily (Mataf Trend Indicator) is in a bullish configuration. The uptrend should continue to gather momentum. The price should find a resistance below 1,4930 (50 pips).

Resistances

1,4900- 1,4930

Supports

1,4830 - 1,4750

more information on EUR/USD - Euro Dollar Click Here

GBP/JPY - British Pound Yen

211,73. GBP JPY is in a range between 210,50 and 213,70. GBP JPY moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. The price should find a support above 210,30. If the support is broken then the target will be 206,50 (520 pips).

Resistances

212,00 - 213,70

Supports

210,50 - 209,50

more information on GBP/JPY - British Pound Yen Click Here

GBP/USD - British Pound Dollar

1,9890. GBP USD is in an uptrend supported by 1H exponential moving averages. GBP USD is in a consolidation after the last bullish movement. The volatility rises. Bollinger bands are deviated. Oscillators are neutral. The price should find a resistance below 1,9950. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9950 - 2,0000

Supports

1,9825 - 1,9730

more information on GBP/USD - British Pound Dollar Click Here

USD/CAD - US Dollar Canadian Dollar

0,9951. USD CAD is in an downtrend directed by 1H exponential moving averages. USD CAD is in a consolidation after the last bearish movement. The volatility decreases. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The consolidation should continue. The price should find a support above 0,9880. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

0,9975 - 1,0000

Supports

0,9940 - 0,9880

more information on USD/CAD - US Dollar Canadian Dollar Click Here

USD/CHF - Dollar Swiss Franc

1,0823. USD CHF broke 1,0850 support. USD CHF 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. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The downtrend should continue on 1,0750 (75 pips) support.

Resistances

1,0850 - 1,0880

Supports

1,0800 - 1,0750

more information on USD/CHF - Dollar Swiss Franc Click Here

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