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Technical Analysis 8/06/2010 FXCBS

Discussion in 'Major Currency Crosses' started by fxcbsar, Jun 8, 2010.

  1. fxcbsar

    fxcbsar New Member

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    Tuesday June 8 , 2010

    Previous session overview

    The pair Euro against the U.S. dollar traded during the Asian session in a narrow range between the lowest level at 1.19124 and the highest level at 1.19819, the pair trading now around the level of 1.19634.

    Also the pair Sterling against the U.S. dollar traded in a narrow range during the Asian session between the highest level at 1.45239 and the lowest level at 1.44607, the pair trading now around the level of 1.44947.

    Finally the pair U.S. dollar against the Japanese Yen traded during the Asian session between the highest level at 91.867 and the lowest level at 91.303 , the pair trading now around the level 91.755.

    Market Expectations

    EUR/USD
    :The pair Euro against the U.S. dollar traded in a narrow range, determined indicators Close to saturation in the procurement process which make us expect a decline for the pair to retest the support level at 1.18680, stability of trading below the resistance level at 1.20400 necessary to achieve these expectations.

    [​IMG]


    GBP/USD :Stochastic indicators show a negative sign for the pair Sterling against the U.S. dollar, which lead us to expect a decline for the pair to the levels 1.43702 then to the 1.42906, close for the four hours candlestick below the level of 1.45990 necessary to achieve these expectations.

    [​IMG]


    USD/JPY :We expected a bearish trend for today to the pair U.S. dollar against the Japanese Yen, starting its targets at 91.00. Keep in mind the importance of this stability remaining below 92.850 to achieve these expectations.


    [​IMG]

    Senior Analyst / Ali Hasan /FXCBS

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