Technical Analysis 16/07/2010 FXCBS

Friday July 16 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded today since the beginning of today’s session between the lowest level at 1.28899 and the highest level at 1.30059, while the pair is trading now around the level of 1.29977.

The pair Sterling against the U.S. dollar traded today since the beginning of today’s session between the lowest level at 1.53575 and the highest level at 1.54616, while the pair is trading now around the level of 1.53766.

Finally the pair U.S. dollar traded since the beginning of the trading today between the highest level at 87.509 and the lowest level at 86.517 , the pair trading now around the level of 86.675.

Market Expectations

EUR/USD : etermined indicators for the pair Euro against the U.S. dollar show negative sign after the pair has reached the target level 1.30000, we expect a corrective movement to the level of 1.28850 before return to continue the bullish trend.

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


GBP/USD : The pair Sterling against the U.S. dollar made a down corrective movement to get rid from the negative signs which was shown through stochastic indicator, now we can see positive sign could push the pair up to the target of 1.55000, stability of the trading above the level of 1.53500 is necessary to achieve these expectations.


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

USD/JPY : The pair U.S. dollar against the Japanese Yen was so close to the corrective level at 87.5000 then it declined towards the target of 86.510, we expect more decline today to the level of 85.650, stability of the trading below the level 88.000 is necessary to achieve these expectations .

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

Senior Analyst / Ali Hasan /FXCBS

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