Technical Analysis 25/05/2010 FXCBS

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Tuesday May 25 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asian session between the highest level at 1.23711 and the lowest level at 1.22705, the pair trading now around the level of 1.22771.

The pair Sterling against the U.S. dollar traded during the Asian between the highest level at 1.44205 and the lowest level at 1.43230, the pair trading now around the level of 1.43247.

Finally the pair U.S. dollar against the Japanese Yen traded in a narrow range between the highest level at 90.310 and the lowest level at 89.578 , the pair trading now around the level of 89.609.

Market Expectations

EUR/USD :The pair Euro against the U.S. dollar faces negative pressure helped yesterday the pair to penetrate the support level at 1.23340, we expect today that the pair of Euro against the U.S. dollar will retest that level then decline to the target of 1.22100 then to the target of 1.21510.




GBP/USD
:The pair Sterling against the U.S. dollar will test the support level at 1.43300 and we expect that the pair will breakthrough this support level and head to the target of 1.42200, stability of trading below the level of 1.44350 necessary to achieve these expectations.




USD/JPY :We expect today for the pair U.S. dollar against the Japanese Yen a declining to the target of 89.100 , to achieve this expectations we need stability of trading and close four hour candlestick below the level of 91.050.



Senior Analyst / Ali Hasan /FXCBS

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