Friday June 11 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asian session in a narrow range between the highest level at 1.21481 and the lowest level at 1.20930, the pair trading now around the level of 1.21802.

Regarding to the pair Sterling against the U.S. dollar also traded during the Asian session in a narrow range between the lowest level at 1.46935 and the highest level at 1.47377, the pair trading now around the level of 1.47269.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asian session in a narrow range between the lowest level at 91.272 and the highest level at 91.747 , the pair trading now around the level of 91.532.

Market Expectations

EUR/USD :etermined indicators for the pair Euro against the U.S. dollar show negative sign and Saturation in the purchasing process, 61.8% Fibonacci show a strong resistance, so we expect today a decline for the pair to the level 1.19680, stability of trading below the level of 1.21550 necessary to achieve these expectations.




GBP/USD :The level 61.8% (1.47300) is a strong resistance for the pair Sterling against the U.S. dollar , also the determined indicators show a negative sign for the pair which may lead the pair to decline to the level of 1.45981 , stability of trading below the level of 1.48272 necessary to achieve these expectations .




USD/JPY :Stochastic unloaded the negative momentum for the pair U.S. dollar against the Japanese Yen, so we expect an intraday upside move which requires the breach of 91.900 targeting initially 92.650. Breaching 90.900 will activate a bearish scenario targeting 89.700 and 88.850.



Senior Analyst / Ali Hasan /FXCBS

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