Thread: Technical analysis 18/12/09 of FXCBS

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

Previous session overview

The euro against the dollar rose during the Asian session after significantly falling the previous day recording the highest at 1.44121 and the lowest at 1.43058. Now the pair is trading around 1.43831 levels.

The pound against the dollar also rose during the Asian session after significantly falling the previous day recording the highest at 1.62490 and the lowest at 1.61090. Now the pair is trading around 1.62087 levels.

The dollar against yen continued the previous day path at the beginning of the Asian session recording the highest at 90.281 and the lowest at 88.949 , now the pair is trading around 90.199.


Market Expectations

EUR/USD :
Euro against U.S dollar fell yesterday to touch the support point of 1.43050 , which shown a strong resistence level, we expect today a correction to the point 1.45000 , this expectation require stability trading above the support level 1.43050.



GBP/USD :
Stochastic appears saturated in sales for the sterling against the U.S. dollar, which could result in a correction to the level of 1.6325 these expectations require stability above the support level 1.6100.



USD/JPY :
We expect that the resistance point 90.750 stands strong barrier for the pair U.S. dollar against the Japanese yen, which may lead the pair to to the targets of 89.120 and then to the level 88.350 , these expectations requires a stability of trading below the level of 90.750.



USD/CAD :
we expect an overall bullish trend for today, where its main targets after breaching 1.07450, start at 1.08300. Keeping in mind, these expectations will remain intact if the breach of 1.06150 is not achieved.



Senior Analyst / Ali Hasan / FXCBS

On Wednesday, the dollar rose against the euro after the Federal Reserve said it would hold interest rates steady near 0% as market conditions improve.

"Yesterday we had the Fed sounding a bit more confident about the recovery," said Dolan. "They noted that the decline in unemployment is abating and consumer spending is showing signs of stabilization."

On Thursday, the euro fell 1.3% to $1.434 against the dollar. The British pound dropped 1.1% to $1.616 versus the greenback.

The dollar gained 0.15% against the yen to ¥89.96.

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