Monday March 15 , 2010

Previous session overview
The euro dollar pair is trading between the 1.37800 levels and 1.37200 levels recording a high of 1.37758 and a low of 1.37260, having the union currency trading around 1.37389.

Regarding the pound dollar pair, it recorded a low of 1.51522 and a high of 1.52070, having the royal currency trading around 1.51522.

Finally, the dollar yen pair recorded a low of 90.544 and a high of 90.799, having the pair trading around 90.697.

Market Expectations

EUR/USD :We expect today a fluctuation for the EUR against the U.S. dollar around the support level of 1.37270 before continuing to the level of 1.36250, Stochastic indicator appears mixed sign, making us stand on neutrality before determining the general direction for the pair today.



GBP/USD : Stochastic indicator appears saturated in the procurement process for the pair sterling against the U.S. dollar, which could push the pair down to the support level at 1.50980 and in the case it penetrates this level it will achieve the level of 1.49930.



USD/JPY :We expect a possible bearish trend, targeting 88.220 then 87.350. Keep in mind the importance of the daily closing remaining below 91.900 to maintain chances of achieving these expectations.



Senior Analyst / Ali Hasan /FXCBS

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