Technical Analysis 30/04/2010 of FXCBS


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Jan 21, 2010
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Friday April 30 , 2010

Previous session overview

The pair Euro against the U.S. dollar rise to achieve the highest price at the level 1.33174 and the lowest price was at the level 1.32235, the pair trading now around the level of 1.33152.

The pair sterling against the U.S. dollar traded in a narrow range Diagonal upward the lowest price for the pair was at the level 1.53155 and the highest level was at 1.53723, the pair trading now around the level of 1.53740.

Finally the pair U.S. dollar against the Japanese yen traded in a narrow range between the highest level at 94.462 and the lowest level at 93.892 , the pair trading now around the level of 94.367.

Market Expectations

EUR/USD :The pair euro against the U.S. dollar penetrated the resistance level1.32650 after a long fluctuating around it closure of the four hours candlestick above this level make us sure that the pair will resumption of movement to the level of 1.33950 then to the level of 1.344450.

GBP/USD : etermined Indicators become near from saturation in purchasing for the pair of sterling against the U.S. dollar, this saturation makes the process of penetration for the resistance level at 1.53950 is difficult , therefore we expect a decline for the pair to re-examine the support level at 1.53670 , these expectations requires a stability of trading below the resistance level at 1.53950.

USD/JPY :The pair continues to fluctuate within a narrow range since reaching 94.00, thus we think that the pair is preparing to start a bearish wave over an intraday basis, supported by tops levels around 94.450 Technical targets start at 92.850 then 91.650 and require 94.450 to remain intact for them to prevail.

Senior Analyst / Ali Hasan /FXCBS


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