Technical Analysis 25/02/10 of FXCBS

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

Thursday February 25 , 2010

Previous session overview

The euro dollar pair decline slightly recording a low of 1.34509 and a high of 1.35479, having the 16 nation's currency trading around 1.34646.

As for the pound dollar pair, decline too in the Asian session for the second straight day recording a low of 1.53220 and a high of 1.542151, having the royal currency trading around 1.53277.

Finally, the American dollar continued to weaken against the Japanese yen, and the pair recorded a low of 89.401 and a high of 90.317, it is currently trading around 89.439.


Market Expectations

EUR/USD :
The pair Euro against U.S dollar closed yesterday below the resistance level at 1.35750prompting the pair to decline, we expect a further drop today aimed at the level of 1.33250 with the need for attention to the possibility of a corrective movement to the level 1.35200.

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

GBP/USD :
Stable of trading below the resistance level at 1.54450 for a couple of sterling against the U.S. dollar yesterday brought the pair to land ,and we expect a further drop today aimed at areas 1.52000, with the possibility to re-test the resistance level broken 1.53930.


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

USD/JPY :
We expect a bearish intraday trend; targeting 88.150 then 87.700. Keep in mind that the breach of 90.650 weakens the expected bearish direction.


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

Senior Analyst / Ali Hasan /FXCBS

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