Technical Analysis 19/02/10 of FXCBS

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

Friday February 19 , 2010

Previous session overview

The euro dollar pair declined recording the lowest since May 18. The pair recorded a low of 1.34552 and it is trading around 1.35060.

The pound dollar pair declined as well to reach the lowest since May 19 recording a low of 1.53709, and it is currently trading around 1.53999.

Finally, the dollar yen pair is fluctuating between a high of 92.000 and a low of 91.670, while the pair is currently trading around 91.810.


Market Expectations

EUR/USD :
The pair euro against the U.S. dollar penetrating the support level which was mentioned yesterday at 1.35300, which led to a sharp decline for the pair, we expect a small correction today for the pair to test the support level at 1.35300 to get rid of the resolved through Stochastic before continuing the process of landing.

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

GBP/USD :
Sterling fell against the U.S. dollar yesterday, to achieve the minimum 1.53450, and we expect a further drop today, and new targets for a couple at 1.52250, and this expectation requires constant of trading below the level of 1.54670.

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

USD/JPY :
There are bearish reversal signs that are appearing through the candles that point to the start of a bearish intraday wave supported by negative signs near to appearing on the stochastic, where the pair headed towards expectations towards levels 91.25 then 90.350.

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

Senior Analyst / Ali Hasan /FXCBS

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