Technical Analysis 2/06/2010 FXCBS

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Wednesday June 2 , 2010

Previous session overview

The pair Euro against the pair U.S. dollar traded during the Asian session between the highest level at 1.22631 and the lowest level at 1.21850, the pair trading now around the level of 1.22176.

The pair Sterling against the pair U.S. dollar traded during the Asian session between the highest level at 1.47504 and the lowest level at 1.46297 , the pair trading now around the level of 1.47336.

Finally , the pair U.S. dollar against the Japanese Yen traded during the Asian session between the highest level at 91.781and the lowest level at 90.873 , the pair trading now around the level of 91.465.

Market Expectations

EUR/USD :etermined indicators shows negative signs for the pair Euro against the U.S. dollar, which may lead the pair to decline again to retest the support level at 1.21680, then arrive to the target of 1.19830, stability of trading below the resistance level 1.23750 necessary to achieve these expectations.




GBP/USD :etermined indicators for the pair Sterling against the U.S. dollar for the four hours chart shows negative signs which may lead the pair to decline and retest the level of 1.44990, then to the target of 1.43590, stability of trading below the level of 1.48040 is necessary to achieve these expectations.




USD/JPY :Stochastic for the pair U.S. dollar is still giving off negative signs; thus making us hold onto our previous expectations that point to an expected bearish trend today; the first key target will remain at 90.050.




Senior Analyst / Ali Hasan /FXCBS

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