Technical Analysis 28/05/2010 FXCBS

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Friday May 28 , 2010

Previous session overview


The pair Euro against the U.S. dollar traded during the Asian session, the pair tended to rise from the lowest level at 1.22818 to the highest level at 1.23805, the pair is currently trading around the level of 1.23468.

The pair Sterling against the U.S. dollar traded during the Asian session between the lowest level at 1.45208 and the highest level at 1.45874, the pair trading is now trading around the level of 1.45793.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asian session between the highest level at 91.363 and the lowest level at 90.843 , the pair is now trading around the level of 91.266.

Market Expectations


EUR/USD :We expect today for the pair Euro against the U.S. dollar up trend to approach the resistance level at 1.24980 then return to decline again , close for the four hours candle stick above the moving average 50 (1.23470) necessary to achieve these expectations .




GBP/USD :Negative signs show through the determined indicators which may lead the pair to decline to build a base on the support level at 1.44650, and then resume the bullish direction to the level of 1.46460, stability of trading above the support level necessary to achieve these expectations.




USD/JPY :We expect today a decline for the pair U.S. dollar against the Japanese Yen to the target of 90.630 then to the target of 90.320, stability of trading below the level of 91.720 necessary to achieve these expectations.



Senior Analyst / Ali Hasan /FXCBS

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