Daily Majors Analysis 24.01

24 Jan 2008

EUR/USD

1,4618. EUR USD is in a consolidation after the last bullish movement. There is an horizontal range between 1,4530 and 1,4660. Support and resistance are given by Bollinger bands. The volatility is low. Bollinger bands are flat. Oscillators are neutral. The consolidation should continue. The price should continue to move in Bollinger bands. We won't take a position.

Resistances

1,4640 - 1,4690

Supports

1,4600 - 1,4520

GBP/JPY

208,43. GBP JPY is in an downtrend directed by 4H exponential moving averages. GBP JPY is in a consolidation after the last bearish movement. There is an horizontal range between 205,00 and 210,00. Support and resistance are given by Bollinger bands. The volatility is high. Bollinger bands are flat. ForexTrend daily (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

209,35 - 210,00

Supports

207,00 - 205,00

GBP/USD

1,9552. GBP USD is in a range between 1,9335 and 1,9640. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility decreases. 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 1,9370 / 1,9660 range. We won't take a position. The risk/reward ratio is too high to take a position..

Resistances

1,9580 - 1,9640

Supports

1,9520 - 1,9480

USD/CAD

1,0232. USD CAD is in an uptrend supported by 4H exponential moving averages. USD CAD is in a consolidation after the last bearish movement. USD CAD is in a range between 1,0225 and 1,0310. The volatility rises. Bollinger bands are deviated. 1H ForexSto (Modified Stochastic) indicate a bearish pressure on USD CAD. The consolidation should continue. The price should find a support above 1,0220. If the support is broken then the target will be 1,0150 (75 pips).

Resistances

1,0260 - 1,0310

Supports

1,0220 - 1,0150

USD/CHF

1,0897. USD CHF is in an downtrend directed by 4H exponential moving averages. USD CHF is in a consolidation after the last bearish movement. The volatility is low. 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 to gather momentum. The price should find a support above 1,0830 (70 pips).

Resistances

1,0940 - 1,0980

Supports

1,0870 - 1,0830