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Technical analysis 8/01/10 of FXCBS

Discussion in 'Technical Analysis' started by fxcbsar, Jan 8, 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

    Friday January 8 , 2010

    Previous session overview

    The euro dollar pair fell slightly to record a low of 1.42871 and a high of 1.43350, having the union currency trading around 1.43169.

    Regarding the pound dollar pair, it is consolidating recording a high of 1.59891 and a low of 1.59149, having the royal currency trading around 1.59660.

    Finally, the dollar yen pair is consolidating between 93.000 and 93.760, recording a high of 93.760 and a low of 93.132, and the pair is currently trading around 93.206.

    Market Expectations

    EUR/USD :
    The Pair euro against the U.S. dollar is close to touching the central support point at 1.42850 and which is very critical point and so great importance to determining the direction of the pair in the medium term, it shows through Stochastic some volatility for a price around these levels, waiting today important data which will be issued from the U.S. economy and that will affect a lot on the course of events..


    GBP/USD :
    Stochastic appears saturated in sales for the pair of sterling against the U.S. dollar, which may lead to rise for the pair , but standing in front of this rise sub-board resistance level at 1.60220 and if the price for the pair stable below that level our previous expectations to fall still constant.


    USD/JPY :
    The U.S. dollar against the Japanese yen rose yesterday to reach the goals that we have it at 93.500 Stochastic is showing saturation in the purchase for the pair, which makes us expect that the trend will be falling for today to the level 91.800 , these expectations require stability of trading below 93.500.


    Senior Analyst / Ali Hasan /FXCBS

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

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