This is Technical analysis daily and provided by specialists and analysts from FXCBS

Wednesday January 13 , 2010

Previous session overview

The euro dollar pair is consolidating recording a low of 1.44562 and a high of 1.45150, having the 16 nation's currency trading around 1.44977.

Regarding the pound dollar pair, it inclined recording a high of 1.62253 and a low of 1.61360, having the royal pound trading around 1.62188.


Finally, the dollar fell against the Japanese yen to record a low of 90.902 and a high of 91.349, and the pair is currently trading around 91.259.


Market Expectations

EUR/USD :
Euro against the U.S dollaris currently trading within a narrow range, but the technical indicators make us expect there is possibility for the pair to rise to the level 1.46450 and that will happen after the pair based on the support level 1.44550, stochastic showing negative signs, which may lead to the fluctuations for the price before continuing to a bearish target.



GBP/USD :
Sterling against the U.S. dollar surged yesterday on the upward movement to achieve a high of 1.62000, and we expect that the price will touch the resistance level at 1.62400 and then make a corrective movement to get rid of saturation in the procurement process, which shown through Stochastic.



USD/JPY :
We expect to witness a possible bearish direction for today; targets are mainly around 89.75, but chances of a minor bullish correction seem to be appearing since yesterday, which could impede through it the pair's testing the breach support 91.25



Senior Analyst / Ali Hasan /FXCBS

Forex ECN Broker|Currency Online Trading| Low Spread| Free Trading Software