Technical Analysis 13/05/2010 of FXCBS

Thursday May 13 , 20

Previous session overview

The pair Euro against the U.S. Dollar during the Asian trading between the highest price at 1.26820 and the lowest price at 1.26112, the pair trading now around the level 1.26807.

The pair sterling against the U.S. dollar traded between 1.48842 at the highest price and lowest price at 1.48152, the pair now trading around the levels of 1.48777.

The pair U.S. dollar against the Japanese yen traded during Asian session between the highest price at 93.426 and lowest price at 93.074, the pair trading now around the levels of 93.390.

Market Expectations

EUR/USD : The constant of the support level at 1.26000 for the couples Euro against the U.S. dollar with the impact of the determined indicators lead us to expect today an upward trend tore- test again the resistance level at 1.27900, continuation of a constant for the support level necessary to achieve this expectation.

http://www.fxcbs.com/newsletter/images/EURUSD.gif


GBP/USD :The pair sterling against the U.S. dollar is fluctuating once again close to the support level 1.4810, determined indicators show that the pair is overbought areas, so we expect a downtrend today to the targets of 1.46380.

http://www.fxcbs.com/newsletter/images/GBPUSD.gif


USD/JPY :The pair fluctuating close to pivotal resistance 93.450 and determined indicators are showing negative signs, so we expect a decline for the pair to the level of 92.350 then to the target of 91.780.

http://www.fxcbs.com/newsletter/images/USDJPY.gif

Senior Analyst / Ali Hasan /FXCBS

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