Friday April 9 , 2010

Previous session overview

The euro dollar pair is consolidating between the 1.33400 levels and the 1.33850 levels recording a high of 1.33835 and a low of 1.33417, having the union currency trading around 1.33642.

Regarding the pound dollar pair, it is trading between a high of 1.53033 and a low of 1.52670, having the royal currency trading around 1.52950.

Finally, the dollar Yen pair recorded a high of 93.642 and a low of 93.336, and it is currently trading around 93.601.

Market Expectations

EUR/USD : The euro against the U.S. dollar is still under pressure therefore holding back any real corrective movement, Trades for the pair will be quiet during the day, and the general trend remains bearish for the pair to head towards the goal of 1.31850, with the possibility of a corrective movement for a pair to the level of 1.34850.

GBP/USD :The pair Sterling against the U.S. dollar trading still limited between the support level at 1.51250 and the resistance level at 1.53030, we advised to monitor the price for the day before determining the direction.

USD/JPY :The expected direction over an intraday basis remains bearish; targeting 93.000 then 92.350 and essentially requires 94.050 to remain intact.

Senior Analyst / Ali Hasan /FXCBS


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