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Technical Analysis 25/02/10 of FXCBS

Discussion in 'Technical Analysis' started by fxcbsar, Feb 25, 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

    Thursday February 25 , 2010

    Previous session overview

    The euro dollar pair decline slightly recording a low of 1.34509 and a high of 1.35479, having the 16 nation's currency trading around 1.34646.

    As for the pound dollar pair, decline too in the Asian session for the second straight day recording a low of 1.53220 and a high of 1.542151, having the royal currency trading around 1.53277.

    Finally, the American dollar continued to weaken against the Japanese yen, and the pair recorded a low of 89.401 and a high of 90.317, it is currently trading around 89.439.

    Market Expectations

    EUR/USD :
    The pair Euro against U.S dollar closed yesterday below the resistance level at 1.35750prompting the pair to decline, we expect a further drop today aimed at the level of 1.33250 with the need for attention to the possibility of a corrective movement to the level 1.35200.


    GBP/USD :
    Stable of trading below the resistance level at 1.54450 for a couple of sterling against the U.S. dollar yesterday brought the pair to land ,and we expect a further drop today aimed at areas 1.52000, with the possibility to re-test the resistance level broken 1.53930.


    USD/JPY :
    We expect a bearish intraday trend; targeting 88.150 then 87.700. Keep in mind that the breach of 90.650 weakens the expected bearish direction.


    Senior Analyst / Ali Hasan /FXCBS


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