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Technical Analysis 1/09/2010 FXCBS

Discussion in 'Major Currency Crosses' started by fxcbsar, Sep 1, 2010.

  1. fxcbsar

    fxcbsar New Member

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    Wednesday September 1 , 2010

    Previous session overview

    The pair Euro against the U.S. dollar traded during the trading today between the lowest level at 1.26627 and the highest level at 1.27732, while the pair trading now around the level of 1.27681.

    The pair Sterling against the U.S. dollar traded during the trading today between the lowest level at 1.53350 and the highest level at 1.54176, while the pair trading now around the level of 1.53761.

    Finally the pair U.S. dollar against the Japanese Yen traded between the lowest level at 83.938 and the highest level at 84.578 , the pair trading now around the level of 84.037.

    Market Expectations

    EUR/USD : etermined indicators start show negative sign for the pair Euro against the U.S. dollar which may lead the pair to decline again to retest the level of 1.27300, and if it can penetrate it may reach to the level of 1.26850.

    [​IMG]

    GBP/USD
    : We expect more decline for the pair Sterling against the U.S. dollar to the target of 1.52850, these expectation require stability of the trading below the level of 1.54450.

    [​IMG]

    USD/JPY : The pair is finding a hard time surpassing 84.500, where we still await for it to build a base on the resistance at 84.750 before heading towards this morning’s suggested targets. From here, our expectations remain intact as long as stability is below 84.850.

    [​IMG]

    Senior Analyst / Ali Hasan /FXCBS

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