Technical Analysis 1/04/2010 of FXCBS


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Jan 21, 2010
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Thursday April 1 , 2010

Previous session overview

The Euro Dollar rose during today’s trading (Asia session) where the pair rebounded to the upside to set a high of 1.35612 and low of 1.34813as it’s now trading at 1.34887.

The British Pound also managed to rise against the U.S. dollar, where the pair rebounded to set a record high of 1.52398 and low of 1.51678 as it’s now trading at 1.51985.

Finally, the U.S. dollar extended its gains against the Japanese Yen, where the pair low of 93.279 and rebound from that level to set the highest level for today at 93.679 as the pair is now trading at 93.674.

Market Expectations

EUR/USD :Today, we expect a decline for the pair euro against the U.S. dollar targeted at 1.34200 and then 1.33800, Stochastic and the RSI supports our expectations for the decline, trading below the level of 1.36100 is necessary to achieve these expectations.

GBP/USD :Today, we expect a decline for the pair sterling against the U.S. dollar to re-examine the support level at 1.50440, stochastic supports these expectations, the stability of trading below the 1.52750 is necessary to achieve these expectations.

USD/JPY :The pair continues to fluctuate around the resistance line for the ascending channel some awaited bearish correction to get rid of the negative momentum appearing, followed by a reversal in trading and through it a bullish direction over intraday can be expected, targeting 94.450 initially. It is vital that the four-hour closing remains above 92.550 for expectations to prevail.

Senior Analyst / Ali Hasan /FXCBS


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