Technical Analysis 4/02/10 of FXCBS

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

Thursday February 4 , 2010

Previous session overview

The euro dollar pair is consolidating between a low of 1.38265 and a high of 1.39024, having the union currency trading around 1.384540.

Regarding the pound dollar pair, it fell slightly recording a low of 1.58236 and a high of 1.59170, having the royal currency trading around 1.58374.

Finally, the dollar yen pair is consolidating between a high of 91.071 and a low of 90.715, having the green currency trading around 90.793.


Market Expectations

EUR/USD :
The pair euro against the U.S. dollar dropped to the level 1.38260 after it reach the resistance level at 1.40250 , , indicators are show saturation in sales, which may lead the pair to make some of the volatility before continuing the process of decline toward the goal 1.37250.

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

GBP/USD :
The pair sterling against the U.S. dollar has fallen to 1.58438, we expect a further drop today, but the pair must be get rid a saturation that appear on the Stochastic indicator before continuing the trip down to the level 1.56800.

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

USD/JPY :
We await today a possible bearish intraday direction that insures the breach of pivotal support 90.800, thereby making the pair's achieving the primary targets easier around 89.100. Keep in mind the importance of trading remaining below 91.300 to insure that these expectations continue.

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

Senior Analyst / Ali Hasan /FXCBS

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