Technical Analysis 31/03/2010 of FXCBS

Wednesday March 31 , 2010

Previous session overview

The euro dollar pair traded in a narrow range during the Asian session recording a high of 1.34380 and a low of 1.33842, having the union currency trading around 1.34077.

The pound dollar pair recorded a low of 1.50570 and a high of 1.50996, having the royal currency trading around 1.50755.

Finally, the dollar yen pair is recorded a high of 93.600 and a low of 92.752, while the pair is currently trading around 93.222.

Market Expectations

EUR/USD :Bullish determined signals by the Stochastic could push the pair euro against the U.S. dollar to rise slightly towards to the resistance level at 1.34500 to retest it , and then detour down to achieve the targets 1.33350 then 1.33050.

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GBP/USD :We commit ourselves to neutrality today for the pair Sterling against U.S. dollar and watching the penetration for the support level at 1.50450 or penetration for the resistance level at 1.51250.

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USD/JPY :We expected bullish intraday trend that will target first mentioned resistance, which will pave the way to the main upcoming target at 94.050. Chances of achieving this scenario will remain intact if we do not witness the four-hour closing below 92.500.


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Senior Analyst / Ali Hasan /FXCBS

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