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Technical Analysis 19/02/10 of FXCBS

Discussion in 'Technical Analysis' started by fxcbsar, Feb 19, 2010.

  1. fxcbsar

    fxcbsar New Member

    Dec 4, 2009
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    This is Technical analysis daily provided by specialists and analysts from FXCBS

    Friday February 19 , 2010

    Previous session overview

    The euro dollar pair declined recording the lowest since May 18. The pair recorded a low of 1.34552 and it is trading around 1.35060.

    The pound dollar pair declined as well to reach the lowest since May 19 recording a low of 1.53709, and it is currently trading around 1.53999.

    Finally, the dollar yen pair is fluctuating between a high of 92.000 and a low of 91.670, while the pair is currently trading around 91.810.

    Market Expectations

    EUR/USD :
    The pair euro against the U.S. dollar penetrating the support level which was mentioned yesterday at 1.35300, which led to a sharp decline for the pair, we expect a small correction today for the pair to test the support level at 1.35300 to get rid of the resolved through Stochastic before continuing the process of landing.

    GBP/USD :
    Sterling fell against the U.S. dollar yesterday, to achieve the minimum 1.53450, and we expect a further drop today, and new targets for a couple at 1.52250, and this expectation requires constant of trading below the level of 1.54670.

    USD/JPY :
    There are bearish reversal signs that are appearing through the candles that point to the start of a bearish intraday wave supported by negative signs near to appearing on the stochastic, where the pair headed towards expectations towards levels 91.25 then 90.350.

    Senior Analyst / Ali Hasan /FXCBS


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