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Technical Analysis 16/09/2010 FXCBS

Discussion in 'Major Currency Crosses' started by fxcbsar, Sep 16, 2010.

  1. fxcbsar

    fxcbsar New Member

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    Thursday September 16 , 2010

    Previous session overview

    The pair Euro against the U.S. dollar traded during the Asia session between the highest level at 1.30351 and the lowest level at 1.29758 , while the pair trading now around the level of 1.1.30260.

    The pair Sterling against the U.S. dollar traded during the Asia session between the highest level at 1.56475 and the lowest level at 1.55835 , while the pair trading now around the level of 1.56211.

    Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the highest level at 85.765 and the lowest level at 85.220 , the pair trading now around the level of 85.405.


    Market Expectations

    EUR/USD : We expect today a corrective movement for the pair Euro against the U.S. dollar to the level 1.29150 then the pair can continue it’s rise again to the level 1.31000 these expectations require stability of the trading above the level 1.29150.


    [​IMG]

    GBP/USD : We expect today a corrective movement to the pair Sterling against the U.S. dollar to retest the support level at 1.55550 then return to rise up to the level 1.57000 , to achieve these expectation we need close four hours candlestick above the level 1.55550 .

    [​IMG]


    USD/JPY : The pair stabilized above yesterday’s breached resistance level 84.650 overbought signs appearing through momentum indicators, where we think will force the pair to attempt some bearish movement to retest the breached level (corrective movement ) then followed by a bullish rebound that the pair will achieve through it an expected bullish intraday trend.

    [​IMG]

    Senior Analyst / Ali Hasan /FXCBS

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