Technical Analysis 18/06/2010 FXCBS

Friday June 18 , 2010

Previous session overview

The pair Euro against U.S. dollar traded in a narrow range during the Asian session between the lowest level at 1.23668 and the highest level at 1.24133, the pair is currently trading around the level of 1.23820.

The pair Sterling against the U.S. dollar also traded in a narrow range during the Asian session between the lowest level at 1.48060 and the highest level at 1.48523, the pair is currently trading around the level of 1.48382.

Finally the pair U.S. dollar against the Japanese Yen traded in a narrow range during the Asian session between the lowest level at 90.741 and the highest level at 91.070 , the pair is currently trading around the level of 90.791.

Market Expectations

EUR/USD :etermined indicators show negative signs for the pair Euro against the U.S. dollar which may lead the pair to decline and form some kind of fluctuation around the level of 1.23450 to get rid the negative sign which is coming from indicators, then return to a bullish move again.

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


GBP/USD :We expect today some fluctuation for the pair Sterling against the U.S. dollar around the level of 74.6% Fibonacci (1.48520) before continuo its bullish trend. Stability of trading above the level 61.8% Fibonacci helped the pair to continue its bullish trend, we expect today that the pair will touch the target of 1.49350.

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


USD/JPY :The pair continues to fluctuate around the level of 90.750, we expect today a decline for the pair to the target of 89.650 then to the target of 88.880, and these expectations require stability of trading below the level 91.450.

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

Senior Analyst / Ali Hasan /FXCBS

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