Technical Analysis 1/03/2010 of FXCBS

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

Monday March 1 , 2010

Previous session overview

The euro dollar pair declined to record a low of 1.35856 and a high of 1.36504, while it is currently trading around 1.36254.

Regarding the pound dollar pair, it declined as well to record a low of 1.50963 and a high of 1.52031, having the royal currency trading around 1.51600.

Finally, the dollar gained against the Japanese yen after the pair declined sharply last week as traders targeted the low yielding yen. The pair recoded a low of 88.810 and a high of 89.364.


Market Expectations

EUR/USD :
The determined Indicators forthe pair euro against the U.S. dollar appears saturated in the procurement process, so we expect a downward trend for the pair to the level 1.34650 and then to the level of 1.33800.

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

GBP/USD :
Sterling against the U.S. dollar has fallen sharply with the start of trading today, but we are now waiting a corrective move upward for the pair before continuing decline towards to the new goals.

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

USD/JPY :
the dollar against the yen Facing strong support levels at the 88,200, determined indicators show signs positive reaction may push the price upward before continuing downward spiral toward to the targets of 87,000 and then 86,450.

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

Senior Analyst / Ali Hasan /FXCBS

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