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

Thursday Jan 28, 2010

Previous session overview

The euro dollar pair fell to record a low of 1.39335 and a high of 1.40500, having the union currency trading around 1.40490.

The pound dollar pair is consolidating between 1.62800 levels and 1.61300 levels recording a low of 1.61355 and a high of 1.62754, while the royal pound is currently trading around 1.62633.

Finally, the dollar gained against the Japanese yen to record a high of 90.540and a low of 89.877, having the pair currently trading around 90.371.


Market Expectations

EUR/USD :
EUR fell against the U.S. dollar at the beginning of trading for the day to achieve the lowest price at 1.39335 after it breakthrough the central support level at 1.40500, Stochastic shows signs of saturation in the sales process, which could push the pair to make corrective move upwards.



GBP/USD :
The pair sterling against the U.S. dollar has rose to 1.6275, Stochastic appears saturated in the procurement process which may lead the pair to fall again, and the pair now stands close to the resistance level at1.6280 which is the main point’s resistance.



USD/JPY :
We expect today that the pair the U.S. dollar against the Japanese yen will enter the wave of down trend to test the levels of around 89.80 and we could see some volatility of the price before reaching that level



Senior Analyst / Ali Hasan /FXCBS

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