Monday June 21 , 2010

Previous session overview

The major currency traded during the Asian session in a narrow range at the beginning of the trading this week, dollar index traded between the lowest level at 85.210 and the highest level at 85.640, while the index trading now around the level 85.230. The pair Euro against the U.S. dollar traded during the Asian session between the lowest level at 1.23682 and the highest level at 1.24671, while the pair is currently trading around the level of 1.24494.

Regarding the pair Sterling against the U.S. dollar traded during the Asian session between the lowest level at 1.48069 and the highest level at 1.49350, the pair trading now around the level of 1.49302.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asian session between the lowest level at 90.253 and the highest level at 90.959, the pair is currently trading around the level of 90.692.

Market Expectations

EUR/USD
:etermined indicators approaching saturation in the purchasing process for the pair Euro against the U.S. dollar which may lead the pair to do a corrective movement to the level of 1.23510 before it continues rising to get rid of the negative signs which are coming through determined indicators, stability of trading below the level of 1.24850 necessary to achieve these corrective movements.




GBP/USD :Negative signs showing through determined indicators for the pair Sterling against the U.S. dollar on the one hour candlestick and four hour candlestick, so we expect a corrective movement for the pair to the level of 1.48030, stability of trading below the level of 1.50170 are necessary to achieve these expectations.




USD/JPY :We expect a decline today for the pair U.S. dollar against the Japanese Yen to the level of 89.450 then to the level of 88.900, stability of trading below the level of 92.000 necessary to achieve these expectations.



Senior Analyst / Ali Hasan /FXCBS

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