Technical Analysis 26/02/10 of FXCBS

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

Friday February 26 , 2010

Previous session overview

The European currency recorded its highest level during the Asian session at 1.36035 and recorded a low at 1.35300, the pair trading now around the level 1.35705.

The British pound tried to rise in the Asian session after the greatest decline against the US dollar yesterday, recorded a highest at 1.52946, and the lowest was at 1.52331, the pair is trading now around the level 1.52749.

The US dollar fell against the Japanese Yen yesterday to near the level of 88.900 recorded the highest level at 89.502 and currently trading at 89.333 and it has recorded the lowest level in the Asian session at 89.084.


Market Expectations

EUR/USD :
We expect today upward trading begins after breaching the resistance level at 1.35850 and the aim at the level 1.38300, these expectations requires stable for trading above the level of 1.35100.

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


GBP/USD :
We expect an upward trend for today's potential first the pivotal resistance level at 1.53500 and then go for the next major objective at 1.54450 , these expectations requires the stability of the trading above the level of1.51700.

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

USD/JPY :
We expect today a bearish intraday direction targets are at 88.880 then 88.200. Keep in mind the importance of the four hours remaining below 90.320 to maintain chances of achieving these expectations.

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


Senior Analyst / Ali Hasan /FXCBS

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