Technical Analysis 24/05/2010 FXCBS

Monday May 24 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asian session between the highest level at 1.25632 and the lowest level at 1.24804, the pair trading now around the level of 1.25022.

The pair Sterling against the U.S. dollar traded during the Asian session between the highest level at 1.44975 and the lowest level at 1.44145, the pair trading now around the level of 1.44906.

Finally , the pair U.S. dollar against the Japanese Yen traded in a narrow range between the highest level at 90.362 and the lowest level at 89.744 , the pair trading now around the level of 90.189.

Market Expectations

EUR/USD :We expect a bullish trend today for the pair Euro against the U.S. dollar targeting mainly 1.26520, stochastic indicators support our expectation, stability of trading above the level of 1.24030 necessary to achieve these expectation.

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GBP/USD :We expect some fluctuation for the pair Sterling against the U.S. dollar between 23.6% and 38.2% Fibonacci correctional levels , then follow by a bullish to the target 1.46370 , these expectation require stability of trading above the level of 1.42750 .

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USD/JPY :Positive signs are appearing on momentum indicators for the pair U.S. dollar against the Japanese Yen may push it to retest the level before resuming the bearish direction for today targeting 89.560 then attempting to pave the way towards 89.200 .


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Senior Analyst / Ali Hasan /FXCBS

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