GBP/USD 03-sept-2008

GBP USD is in an downtrend directed by 1H exponential moving averages. The volatility is high. Bollinger bands are parallel and form the trend. Forex Trend 1H, 4H, daily is in a bearish configuration. 1H, 4H Stochastic indicate a bearish pressure on GBP USD. The downtrend should continue on 1,7500 (300 pips) support.

Today - I take short position at 1,7810. put the stop loss above 1,7870 (-70 pips). Targets are 1,7790 (+110 pips) 1,7500 (+300 pips).

Resistances 1,7970 - 1,8080

Supports 1,7785 - 1,7700

Good luck

EURO/USD 2-sept-2008

1,4573. EUR USD is in an downtrend directed by 4H exponential moving averages. The volatility is low. Bollinger bands are parallel and form the trend. ForexTrend 1H, 4H, daily Trend Indicator is in a bearish configuration. 4H Stochastic indicate a bearish pressure on EUR USD. The downtrend should continue on 1,4380 (190 pips) support.
=> We could take a short position at 1,4580. We will put the stop loss above 1,4620 (-40 pips). The targets are 1,4470 (+110 pips) 1,4380 (+200 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

British Pound Ends The Month 1600 Points Lower

For Friday’s close, GBPUSD ended with a fresh 13-month low. On the week, the pair dropped below a major 38.2 percent retracement of a 7-year trend. But, to really get the feeling for the health of the currency, a chart of the 1600-point plunge through August really reflects the position of the sterling. Is this a reasonable decline? Has it reached a point of exhaustion?

• Dollar Benefits With An Outlook Just Better Than Its Peers
• Euro Ends The Week With Another Reason For The ECB To Consider Cuts
• British Pound Ends The Month 1600 Points Lower
• Rate Decisions And Oil Prices Promise A Volatile Week For The Comm Bloc
• Japanese Yen Fights The Dollar Trend

GBP/USD - British Pound Dollar

Short term (Intraday)

1,8346. GBP USD is in an downtrend directed by 1H exponential moving averages. GBP USD is in a consolidation after the last bearish movement. The volatility decreases. ForexTrend 4H, daily (Mataf Trend Indicator) is in a bearish configuration. The downtrend should continue to gather momentum.
=> We could take a short position at 1,8360. We will put the stop loss above 1,8420 (-60 pips). The targets are 1,8270 (+90 pips) 1,8180 (+180 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 3.

Resistances

1,8400 - 1,8475

Supports

1,8300 - 1,8180

Long term chart

GBP/USD - British Pound Dollar

updated 28 août 2008 06:12 GMT

EUR/USD - Euro Dollar

Short term (Intraday)

1,4783. EUR USD is in an downtrend directed by 4H exponential moving averages. EUR USD is in a consolidation after the last bearish movement. The volatility rises. Bollinger bands are deviated. ForexTrend daily (Mataf Trend Indicator) is in a bearish configuration. 1H, 4H ForexSto (Modified Stochastic) indicate a bullish pressure on EUR USD. The price should find a resistance below 1,4825. The price should continue to move in 1,4600 / 1,4825 range.
=> We could take a short position at 1,4780. We will put the stop loss above 1,4825 (-45 pips). The targets are 1,4720 (+60 pips) 1,4620 (+180 pips). Each trade is dangerous, take care and put your stop loss. Trade configuration (1 Speculative -> 4 Trend following): 2.

Resistances

1,4800 - 1,4825

Supports

1,4725 - 1,4670

Long term chart

EUR/USD - Euro Dollar

updated 28 Augustus 2008 06:15 GMT