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Technical Analysis 27/01/10 of FXCBS

Discussion in 'Technical Analysis' started by fxcbsar, Jan 27, 2010.

  1. fxcbsar

    fxcbsar New Member

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

    Wednesday Jan 27, 2010

    Previous session overview

    The euro dollar pair is consolidating between 1.40962 levels and 1.40402 levels, having the union currency trading around 1.40552.

    Regarding the pound dollar pair, continued taking a downside today recording a low of 1.61086 and a high of 1.61600, while the royal currency is currently trading around 1.61418.

    Finally, the Japanese yen continued to rally against its American counterpart, and the pair recorded a low of 89.136 and a high of 89.720, while it is currently trading around 89.389.

    Market Expectations

    EUR/USD :

    The pair Euro against the U.S dollar still have negative pressure which push the pair to landing , but the support level at 1.40500 still also strong and have powerful from the positive signals which come through Stochastic indicator , the penetration of this level open the way for the pair to fall to the level 1.38450.


    GBP/USD :
    We expect today for the pair Sterling against the U.S down trend begins after breakthrough the support level at 1.60600 to the initially target 1.60000 then further to 1.59250 , steady trading below 1.62800 is a necessary condition to achieve this expectation.


    USD/JPY :

    Stochastic appears saturated in sales, which may lead the pair to some volatility and small correction to the level 89.900 before continues its landing to the target level at 87.450.


    Senior Analyst / Ali Hasan /FXCBS

    Forex ECN Broker|Currency Online Trading| Low Spread| Free Trading Software

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