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Currency Majors Technical Analysis

By:

Mataf

2008-21-05

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European SessionEUR/USD - Euro Dollar
1,5671. EUR USD broke 1,5600 resistance. EUR USD is in a consolidation after the last bullish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The uptrend should continue on 1,5720 (50 pips) resistance. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,5680 - 1,5720
Supports
1,5610 - 1,5540
more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar
1,9684. GBP USD is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 1H (Mataf Trend Indicator) is in a bullish configuration. 4H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP USD. The price should find a resistance below 1,9730. The consolidation should continue. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,9730 - 1,9800
Supports
1,9630 - 1,9540
more information on GBP/USD - British Pound Dollar Click Here

USD/CAD - US Dollar Canadian Dollar
0,9898. 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 is low. Bollinger bands are flat. ForexTrend 1H, 4H (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum. The price should find a support above 0,9800 (100 pips).
=> We could take a short position at 0,9900. We will put the stop loss above 0,9950 (-50 pips). The targets are 0,9850 (+50 pips) 0,9800 (+100 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.
Resistances
0,9950 - 0,9960
Supports
0,9880 - 0,9850
more information on USD/CAD - US Dollar Canadian Dollar Click Here

USD/CHF - Dollar Swiss Franc
1,0360. USD CHF broke 1,0425 support. USD CHF is in a consolidation after the last bearish movement. The volatility decreases. Bollinger bands are tightened. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CHF. The downtrend should continue on 1,0300 (60 pips) support. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
1,0385 - 1,0420
Supports
1,0340 - 1,0300
more information on USD/CHF - Dollar Swiss Franc Click Here

USD/JPY - Dollar Yen
103,19. USD JPY is in an downtrend directed by 15min exponential moving averages. The volatility is high. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bearish pressure on USD JPY. The downtrend should continue to gather momentum. The price should find a support above 102,80. We won't take a position. The risk/reward ratio is too high to take a position..
Resistances
103,55 - 103,90
Supports
102,85 - 102,50
more information on USD/JPY - Dollar Yen Click Here

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