Technical Analysis 2/04/2010 of FXCBS

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Friday April 2 , 2010

Previous session overview


The euro reached the highest yesterday at 1.35900 only to reverse from this level and to start a slight decline in today's Asian session recording a low of 1.35536 and a high of 1.35905.

Pound against the dollar started a slight decline in the Asian session. The pair recorded a high of 1.52958 and a low of 1.52509.

Finally, the dollar yen pair continued to incline recording the highest in seven months, the pair recorded the highest during the Asian session at 94.055 and a low of 93.66.

Market Expectations

EUR/USD :Narrow trading range for the pair the euro against the U.S. dollar today as the Good Friday holiday, determined indicators show negative signs may pay the price to a simple slide and begin after penetration level of support 1.35600.



GBP/USD
:etermined indicators show negative signs for the pair sterling against U.S dollar, which makes us expect a decline for the pair to the level of 1.52000.



USD/JPY :The correction is urgently needed to relieve the indicators, followed by resuming the possible predicted bullishness over intraday basis, targeting 95.000.





Senior Analyst / Ali Hasan /FXCBS

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