Currency Majors Technical Analysis

April 21, 2008

1,5828. EUR USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. Bollinger bands are tightened. ForexTrend daily (Mataf Trend Indicator) is in a bullish configuration. 1H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should continue to move in 1,5710 / 1,5880 range. We won’t take a position. The risk/reward ratio is too high to take a position..

Resistances

1,5880 - 1,5870

Supports

1,5800 - 1,5710

more information on EUR/USD - Euro Dollar Click Here

GBP/USD - British Pound Dollar

2,0009. 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. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on GBP USD. The uptrend should continue to gather momentum. The target is expected at 2,0150.

Resistances

2,0030 - 2,0070

Supports

1,9950 - 1,9910

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

USD/CAD - US Dollar Canadian Dollar

1,0043. USD CAD is in a range between 1,0000 and 1,0140. USD CAD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is high. ForexTrend 1H (Mataf Trend Indicator) is in a bearish configuration. The price should continue to move in Bollinger bands. We won’t take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0075 - 1,0140

Supports

1,0035 - 1,0000

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

USD/CHF - Dollar Swiss Franc

1,0165. USD CHF broke 1,0100 resistance. USD CHF 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. The consolidation should continue. The price should continue to move in 1,0100 / 1,0250 range. We won’t take a position. The risk/reward ratio is too high to take a position..

Resistances

1,0200 - 1,0270

Supports

1,0150 - 1,0100

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

USD/JPY - Dollar Yen

103,72. USD JPY broke 103,00 resistance. USD JPY is in an uptrend supported by 1H exponential moving averages. USD JPY 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 USD JPY. The consolidation should continue. The price should find a support above 103,50. If the support is broken then the target will be 102,00. We won’t take a position. The risk/reward ratio is too high to take a position..

Resistances

104,00 - 104,60

Supports

103,50 - 103,00

more information on USD/JPY - Dollar Yen Click Here

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