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Technical Analysis 7/06/2010 FXCBS

Discussion in 'Major Currency Crosses' started by fxcbsar, Jun 7, 2010.

  1. fxcbsar

    fxcbsar New Member

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    Monday June 7 , 2010

    Previous session overview

    The pair Euro against the U.S. Dollar traded during the Asian session between the highest level at 1.19662 and the lowest level at 1.18763, the pair trading now around the level of 1.19271.

    Regarding to the pair Sterling against the U.S. dollar also traded during the Asian session between the highest level at 1.44607 and the lowest level at 1.44017, the pair trading now around the level of 1.44568.

    Finally the pair of U.S. dollar against the Japanese Yen traded during the Asian session between the lowest level at 90.890 and the highest level at 91.942, the pair trading now around the level of 91.289.

    Market Expectations

    EUR/USD
    :We advice today to monitor the trading for the pair Euro against the U.S. dollar, after the pair could penetrate the support level at 1.20400 in the end of the trading last week and approach the target of 1.18763, determined indicators stand in the mixed areas which may lead for some volatility that makes us advice to monitor the price for today.

    [​IMG]


    GBP/USD :We expect today a decline for the pair Sterling against the U.S. dollar to the levels of 1.43250 then to the level of 1.42200 , determined indicators support our expectations , stability of trading below the level of 1.46000 necessary to achieve these expectation .

    [​IMG]

    USD/JPY
    :We expect today for the pair U.S. dollar against the Japanese Yen a bearish trend where the main targets are expected to be at 90.000. The breach of level 92.900 will lead to a direction ascend towards 94.450.

    [​IMG]

    Senior Analyst / Ali Hasan /FXCBS

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