Technical Analysis 5/04/2010 of FXCBS

Monday April 5 , 2010

Previous session overview

The pair EUR against the U.S. dollar has been trading between the resistance level at 1.35650 and the support level at 1.34500, while showing some signs of negative for indicators of relative strength, but we postpone resolving the trend today until we see a breakthrough of one of these levels.

Today, we expect a correction downward for the pair sterling against the U.S. dollar to the level of 23.8% Fibonacci at the level of 1.51650 followed by a turn towards the top to the targets of 1.53250 and then 1.53800.

We expected some fluctuation and minor bearish correction to retest the level of 93.700, then resume the expected bullish direction for this day; to the key targets are around 95.620.

Market Expectations

EUR/USD :Narrow trading range for the pair the euro against the U.S. dollar today as the Good Friday holiday, determined indicators show negative signs may pay the price to a simple slide and begin after penetration level of support 1.35600.

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

GBP/USD : etermined indicators show negative signs for the pair sterling against U.S dollar, which makes us expect a decline for the pair to the level of 1.52000.

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

USD/JPY :The correction is urgently needed to relieve the indicators, followed by resuming the possible predicted bullishness over intraday basis, targeting 95.000.

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

Senior Analyst / Ali Hasan /FXCBS

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