Technical Analysis 27/05/2010 FXCBS

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Thursday May 27 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asian session between the highest level at 1.22864 and the lowest level at 1.21536, the pair trading now around the level of 1.22677.

The Sterling against the U.S. Dollar traded during the Asian session between the highest level at 1.44674 and the lowest level at 1.43655, the pair trading now around the level of 1.44605.

Finally the pair U.S. dollar against the Japanese Yen traded in a narrow range between the highest level at 93.311 and the lowest level at 89.807 , the pair trading now around the level of 90.232.

Market Expectations

EUR/USD :We advice for the pair Euro against the U.S. dollar to still waiting and monitor the support level at 1.21500 and the resistance level at 1.22900 before we can know the trend today, penetration for the support level at 1.21500 may lead the pair to decline quickly and penetration for the resistance level at 1.22900 may lead the pair to a corrective movement to the level 1.23990.




GBP/USD
:Stochastic indicator show a saturation on the buying process for the pair Sterling against the U.S. dollar which may lead the pair to decline to the level of 1.43800 then 1.42300 , stability of trading below the level of 1.45690 necessary to achieve that .




USD/JPY
:We expect for the pair U.S. dollar against the Japanese Yen a bearish intraday direction targets start at 89.100 and require the daily closing below 91.050 to prevail.




Senior Analyst / Ali Hasan /FXCBS

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