Technical Analysis 3/06/2010 FXCBS

Thursday June 3 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.22260 and the highest level at 1.23259, the pair trading now around the level of 1.22972.

Regarding to the pair Sterling against the U.S. dollar also traded during the Asia session between the lowest level at 1.46353 and the highest level at 1.47427, the pair trading now around the level of 1.47288.

Finally the pair U.S. dollar against the Japanese Yen traded in a narrow range during the Asia session between the highest level at 92.421 and the lowest level at 92.040 the pair trading now around the level of 92.371.

Market Expectations

EUR/USD :etermined indicators for the pair Euro against the U.S. dollar show a negative sing make us expect that the pair should retest again the support level at 1.21700, stability of trading below the level of 1.23750 necessary to achieve these expectations.

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


GBP/USD :etermined indicators for the pair Sterling against the U.S. dollar show a negative sing make us expect that the pair will decline to the level of 1.45890 then to the level of 1.44990, stability of trading below the level of 1.48040 necessary to achieve these expectations.


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

USD/JPY :The pair succeeded in stabilizing above the previously broken main support that has formed strong resistance in the past few days around 91.450, we expect a bullish intraday trend; targets are mainly at 93.400 – 94.050.

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

Senior Analyst / Ali Hasan /FXCBS

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