Monday March 8 , 2010

Previous session overview

The Euro Dollar pair inclined slightly to record a high of 1.37013 and a low of 1.36251, having the union currency trading around 1.37002.

The Pound Dollar pair is currently trading between the record high of 1.51940 and a low of 1.51263, having the royal currency trading around 1.51916.

Finally, the Dollar fell slightly against the Japanese yen and the pair recorded a low of 90.344 and a high of 90.678, while it is currently trading around 90.374.

Market Expectations

EUR/USD :
etermined Indicators for the pair Euro against the U.S. dollar appears saturated in the procurement process, which make us expect today down trend for the pair to test the support level at 1.35680, MACD supports our expectations which began to show negative signs.



GBP/USD :
Sterling gained against the U.S. dollar at the beginning of trading session to achieve the highest at the resistance level of 1.51860; determined indicators show saturation in the procurement process which may lead the pair to drop to the level of 1.50846 and 1.50366.



USD/JPY :
We expect trading to remain below 91.000, with a chance of a bearish trend remaining intact. The breach of 88.220 to the downside will create a sharp bearish direction.



Senior Analyst / Ali Hasan /FXCBS

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