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Technical analysis 14/12/09 of FXCBS

Discussion in 'Technical Analysis' started by fxcbsar, Dec 14, 2009.

  1. fxcbsar

    fxcbsar New Member

    Dec 4, 2009
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    This is technical daily and provided by specialists and analysts from the company FXCBS

    Previous session overview

    The dollar rose against the Euro during the Asian session to achieve the highest trading level of 1.46835 and the lowest trading level of 1.45971, the pair is now trading around the level 1.46559.

    The Sterling pair also rose against the U.S dollar during the Asian session to achieve the highest price at 1.63254 and the lowest price at the level 1.61899, the pair is trading around the level 1.62455.

    Finally the dollar against the yen dropped sharply during the Asian session, the pair has reached the lowest level of 88.379, and trading now around the level of 88.697.

    Market Expectations

    EUR/USD :
    Euro fell against the U.S. dollar at the end of trading on Friday at the previous week to achieve the lowest at 1.45852, we expect to this day that the pair will make a corrective to the level 1.47450, and then relapse again down towards to the target 1.45000 and then 1.44250.

    GBP/USD :

    Sterling fell against the dollar at the end of trading at the previous week without achieving a new target, the pair touched the level 1.61910, so we expect today a volatility around that level and then a corrective movement to the level of 1.63800 and then back down again, the general trend outlook is heading towards the target of 1.5980.

    USD/JPY :
    We expect today that the pair U.S dollar against the Japanese Yen will fall to the level 87.500 after the pair breakthrough the level 88.350 , we expect that the general trend for the pair goes down to the level 85.000.

    USD/CAD :
    We expect that the pair will make a downside correction to the level 1.50250 as maximum, and then goes up to the level 1.07000, these expectations require stability of trading above the level of 1.04900.

    Senior Analyst / Ali Hasan / FXCBS


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