Technical Analysis 2/07/2010 FXCBS

Friday July 2 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session in a narrow range between the lowest level at 1.24855 and the highest level at 1.25302 , while the pair trading now around the level of 1.24930.

Regarding to the pair Sterling against the U.S. dollar also traded in a narrow range during the Asia session between the lowest level at 1.51508 and the highest level at 1.51976, the pair trading now around the level of 1.51769.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 87.530 and the highest level at 88.210 , while the pair trading at this moment around the level of 88.065.

Market Expectations

EUR/USD : etermined indicators for the pair Euro against the U.S. dollar show negative sign and saturation in the purchasing process which may lead the pair to some fluctuation and corrective movement to the level of 1.24190 before continuo it’s raising , we should know that today we are waiting important news from U.S. economy (Unemployment Rate).

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

GBP/USD : etermined indictors for the pair Sterling against the U.S. dollar show a negative sign and saturation in the purchasing process which is may lead the pair to make some fluctuation with small corrective before continuo its raising, stability of the trading above the level of 1.49933 necessary to achieve these expectations.

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

USD/JPY : etermined indicators show positive sign and saturation in the selling process, so we expect an uptrend today to the target 88.400 before continuo its decline to the level of 85.950.

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

Senior Analyst / Ali Hasan /FXCBS

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