Technical analysis 16/12/09 of FXCBS

This is technical daily and provided by specialists and analysts from the company FXCBS

Previous session overview

The euro dollar pair is consolidating between 1.45610 and 1.45111, recording a high of 1.45610 and a low of 1.45111, and the pair is currently trading around 1.45261.

Regarding the pound dollar pair, it declined slightly recording a low of 1.62396 and a high of 1.62775, having the royal currency trading around 1.62620.

Finally, the dollar yen pair is consolidating between 89.721 and 89.386, recording a high of 89.721 and a low of 89.386, having the pair currently trading around 89.71.

Market Expectations

EUR/USD :
We expect today that the pair Euro against U.S dollar will continue its bearish trend with possibility of a correction, we expect that the pair will fall to the target 1.44650 then to the target 1.43800 , these expectations require constant trading below the level 1.45800 With reference to the importance of news of interest from the U.S. Federal.

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

GBP/USD :
Sterling against the U.S dollar traded within a narrow range and continues to pressure to break the support level at 1.61900 and we expect Today that the pair will breakthrough this level to achieve the target 1.60250 , these expectation requires constant trading below 1.63200.

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


USD/JPY :
The closure of trading the U.S. dollar against the yen below the level of 90.00 kept our expectations as we mentioned in the last report, we are waiting for penetration of support level 88.750 then 88.450.

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

USD/CAD :
The expected direction for today is bullish over an intraday basis and initially targets 1.0730, while taking into consideration that the bullish short term wave requires the daily close to remain above 1.0510.

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


Senior Analyst / Ali Hasan / FXCBS