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Technical Analysis 25/08/2010 FXCBS

Discussion in 'Major Currency Crosses' started by fxcbsar, Aug 25, 2010.

  1. fxcbsar

    fxcbsar New Member

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    Wednesday August 25 , 2010

    Previous session overview


    The pair Euro against the U.S. dollar trade during the Asia session between the lowest level at 1.26160 and the highest level at 1.27266, while the pair trading now around the level of 1.26990.

    Regarding to the pair Sterling against the U.S. dollar the pair traded during the Asia session between the lowest level at 1.53893 and the highest level at 1.54614, the pair trading around the level of 1.54333.

    Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 83.900 and the highest level at 84.674 , the pair trading now around the level of 84.637.


    Market Expectations

    EUR/USD : We can see negative sign for the pair Euro against the U.S. dollar through determined indicators which may lead the pair to decline more after complete the corrective movement to the level 1.26990; we expect that the pair will decline to the level of 1.25410 then to the level of 1.24850.

    [​IMG]

    GBP/USD
    : We expect today for the pair Sterling against the U.S. dollar a decline to the level 1.53000 then to the level of 1.52410 , Stochastic indicator show negative sign support our expectations , stability of the trading below the level 1.56280 necessary to achieve these expectations .

    [​IMG]

    USD/JPY : The pair achieved a bearish trend reaching 84.00 but is finding strong resistance that will continue pushing the pair to the upside, stochastic neared overbought areas, and we may see some fluctuation and lead towards to the upside to retest the breached 84.85, so we expected bearish intraday direction

    [​IMG]

    Senior Analyst / Ali Hasan /FXCBS

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