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    Default Technical Analysis 7/04/2010 of FXCBS

    Wednesday April 7 , 2010

    Previous session overview


    The Euro fell against the U.S. dollar in today’s trading, where the pair opened today’s trading at 1.34050 and achieve the highest at 1.34083 then set a low of 1.33590, the pair trading now around 1.33669.

    The British Pound also rose against the U.S. dollar in today’s trading, where the pair opened today’s session at 1.52330 to set a low of 1.52273 and the highest at 1.52743 while currently trading at 1.52349.

    Finally, the U.S. dollar against the Japanese Yen achieve the highest at 94.265 , and the lowest at 93.557 , where the pair trading now around the level of 94.029.

    Market Expectations


    EUR/USD :We expect more bearish movement over the intraday basis. Upcoming targets are 1.3270, and there are chances of a bullish intraday rebound could appear if pivotal resistance levels between 1.3410 – 1.3460 are not breached.



    GBP/USD :We expect a direction bullish for today and targets around 1.53850, this expectation requires a constant trading above the support level at 1.51250.



    USD/JPY :Bullish momentum appearing on Stochastic for the pair U.S. dollar against Japanese Yen , so we expect a bullish trend for today where its targets start at 94.700.



    Senior Analyst / Ali Hasan /FXCBS

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    Default

    Past Events
    ·USD FOMC Meeting Minutes
    ·EUR Sentix Consumer Confidence, out at 2.5 versus expected -5.9, prior -7.5
    ·GBP Construction PMI, out at 53.1 versus expected 48.8, prior 48.5
    ·AUD Cash Rate, out at 4.25% as expected, prior 4.0%
    Upcoming Events
    ·GBP Manufacturing Production m/m (0830 GMT)
    ·GBP Asset Purchase Facility (1100 GMT)
    ·GBP Monetary Policy Committee Rate Statement (Tentative)
    ·GBP Official Bank Rate (1100 GMT)
    ·EUR Minimum Bid Rate (1145 GMT)
    ·EUR ECB Press Conference (1230 GMT)
    ·USD Unemployment Claims (1230 GMT)
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