Technical Analysis 11/03/2010 of FXCBS

Thursday March 11 , 2010

Previous session overview

The euro dollar pair is consolidating between the high of 1.36594 and the low of 1.36283, while The Euro Dollar Pair is currently trading around 1.36361.

The Pound Dollar pair almost didn’t move as it recorded a low of 1.49481 and a high of 1.49877, having the royal currency trading around 1.49577.

Finally, the dollar yen pair is trading between a high of 90.546 and a low of 90.203, while the pair is currently trading around 90.444.

Market Expectations

EUR/USD :Stochastic indicator for the Euro against the U.S. dollar pair appears saturated in the procurement process for the hour and for the four hours, we expect downward trend today. Our primary target for the pair is to test 1.35850 and then 1.35200.

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

GBP/USD : Stochastic indicator for the sterling dollar pair appears saturated in the procurement process, which makes us expect a downward trend for the pair to test 1.48990 and can achieve 1.47800.

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

USD/JPY : We expect a bullish intraday direction that requires the breach of 90.750 and target 91.450. Keep in mind that the breach of 90.000 will weaken chances of achieving these expectations. Stable trading above the 200 day moving average at the 90.000 is necessary to achieve our expectations.

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

Senior Analyst / Ali Hasan /FXCBS

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