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Technical Analysis 18/10/2010 FXCBS

Discussion in 'Major Currency Crosses' started by fxcbsar, Oct 18, 2010.

  1. fxcbsar

    fxcbsar New Member

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    Monday October 18 , 2010

    Previous session overview

    The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.38552 and the highest level at 1.39891, the pair trading now around the level of 1.38721.

    Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.58752 and the highest level at 1.60035, the pair trading now around the level of 1.58777.

    Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 81.125 and the highest level at 81.483 , the pair trading now around the level of 81.170.

    Market Expectations

    EUR/USD
    : We expect in general that the pair Euro against the U.S. dollar still in a bullish movement until now, and the downside for the pair last Friday and this morning still just a correction movement for the pair, so we expect that the pair will return to rise up again to retest the level of 1.41500, these expectations require stability of the trading above the level of 1.37700.

    http://www.fxcbs.com/newsletter/images/EURUSD.gif

    GBP/USD : We expect today that the pair Sterling against the U.S. dollar will rise up to the level 1.59350 first then to the level of 1.60490, these expectations require stability of the trading above the level of 1.58400.

    http://www.fxcbs.com/newsletter/images/GBPUSD.gif

    USD/JPY[/COLOR] : We expect a bullish intraday trend, supported by a bullish crossover appearing on Stochastic. The expected targets start at 82.450 then 82.850, which require the daily closing above 81.000 to prevail.

    http://www.fxcbs.com/newsletter/images/USDJPY.gif


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    #1 fxcbsar, Oct 18, 2010
    Last edited: Oct 18, 2010
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