Technical Analysis 1/06/2010 FXCBS

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Tuesday June 1 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded in a narrow range during the Asian session between the highest level at 1.23084 and the lowest level at 1.22473, the pair trading now around the level of 1.22842.

Regarding to the pair Sterling against the U.S. dollar also traded in a narrow range during the Asian session between the highest level at 1.45433 and the lowest level at 1.44700, the pair trading now around the level of 1.45170.

Finally , the pair U.S. dollar against the Japanese Yen traded during the Asian session in a narrow range between the lowest level at 90.890 and the highest level at 91.278 , the pair trading now around the level of 91.154.

Market Expectations

EUR/USD :We expect today some the pair to fluctuate around the level of 1.23240 then decline to the level of 1.22622 and then descend to the level of 1.21680, stability of trading below the level of 1.23791 necessary to achieve these expectations.




GBP/USD :We expect today that the pair Sterling against the U.S. dollar will approach the resistance level at 1.45703, then return to decline to the level 1.44020 then to the level 1.43160, stability of trading below the moving average 100 at 1.45850 necessary to achieve these expectations.




USD/JPY
:We expect today a decline for the pair U.S. dollar against the Japanese Yen to the level of 90.050 , theses expectation require stability of trading below the level 92.400, determined indicators support our expectations .



Senior Analyst / Ali Hasan /FXCBS

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