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Technical Analysis 24/02/10 of FXCBS

Discussion in 'Technical Analysis' started by fxcbsar, Feb 24, 2010.

  1. fxcbsar

    fxcbsar New Member

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

    Wednesday February 24 , 2010

    Previous session overview

    The euro dollar pair recorded a high of 1.35509 and a low of 1.35018, having the union currency trading around 1.35320.

    The pound dollar pair consolidated in the Asian session, the pair recorded a high of 1.54640 and a low of 1.54178.

    The dollar yen pair recorded a low of 90.092 and a high of 90.355, while the pair is currently trading around 90.229.

    Market Expectations

    EUR/USD :

    We expect today a decline for the pair Euro against U.S dollar to achieve anew target at the level 1.33800, this decline will start after breakthrough the support level at 1.34840 , and these expectations require stability of trading below 1.35850.


    GBP/USD :

    The pair Sterling against U.S dollar still fluctuates near the resistance level at 1.54450; we must wait closing for the four hours candle below this level to say that the pair will decline to achieve new goals at 1.53120 and 1.52000.


    USD/JPY :
    we expect a bearish intraday trend; targeting 89.500 then 88.920. Keep in mind that the breach of 90.650 weakens the expected bearish direction.


    Senior Analyst / Ali Hasan /FXCBS


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