Technical Analysis 26/05/2010 FXCBS

Wednesday May 26 , 2010

Previous session overview

The pair Euro against U.S. dollar traded during the Asian session between the lowest level at 1.22621 and the highest level at 1.23877, the pair trading now around the level of 1.22701.

The pair Sterling against the U.S. dollar traded during the Asian session in a narrow range between the lowest level at 1.43509 and the highest level at 1.44480, the pair is currently trading around the level of 1.43694.

Finally the pair U.S. dollar against the Japanese Yen also traded in a narrow range between the lowest level at 89.996 and the highest level at 90.490 the pair trading now around the level of 90.186.

Market Expectations

EUR/USD :etermined indicators for the pair Euro against the U.S. dollar show a negative signs which may lead the pair to decline and retest the support level at 1.21750 then reach the target of 1.20890, stability of trading below the level of 1.24260 is necessary to achieve these expectations.

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


GBP/USD :We expect today for the pair Sterling against the U.S. dollar a small up correction to the level of 1.44450, and then decline again to the level of 1.42300, then to the target of 1.41670, determined indicators support our expectations.

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


USD/JPY :We expect for the pair of U.S. dollar against Japanese Yen a bearish intraday trend in overall for today. Technical targets are at 89.100 then 88.570, where achieving them need a daily closing remaining below 91.050.

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

Senior Analyst / Ali Hasan /FXCBS

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