Technical Analysis 29/03/2010 of FXCBS

Monday March 29 , 2010

Previous session overview

The euro dollar pair declined in the Asian session recording a low of 1.34187 and a high of 1.34898, having the union currency trading around 1.34421.

Regarding the pound dollar pair, it fell slightly recording a low of 1.48919 and a high of 1.49621, having the royal currency trading around 1.49464.

Finally, the dollar yen pair is consolidating between a high of 92.785 and a low of 92.345, while the pair is currently trading around 92.610.

Market Expectations

EUR/USD :Today we expect a downward trend for the pair euro against the U.S. dollar to the target level of 1.32250, Stochastic indicator supports our expectations today , which is approaching saturation levels in the procurement process. The stability of trading below 1.35800 is necessary to achieve these expectations.

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GBP/USD :We are still waiting for a pair sterling against the U.S. dollar to supplement the corrective movement initiated by the end of last week, And wait for contact with the resistance level at 1.50000, And then back down to the support level at 1.47800, In the event that the pair penetrates this level it will move to the new goals at 1.46650 then 1.45950.

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

USD/JPY :We expect a bullish direction for this week; main targets start at 93.500 then 94.100. Keep in mind that this expected ascend will remain intact if we do not witness a closing below 91.000.


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Senior Analyst / Ali Hasan /FXCBS

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