Monday April 19 , 2010

Previous session overview

The euro dollar pair consolidated between a low of 1.34373 and a high of 1.34973, while it is currently trading around the level of 1.34432.

The pound dollar pair fell slightly recording a low of 1.52110 and a high of 1.53149, and the pair is trading in the oversold area, while it is currently trading around the level of 1.52141.

Finally, the U.S. dollar against the Japanese Yen is fluctuating between a high of 92.210 and a low of 91.741 while it is currently trading around 91.780.

Market Expectations

EUR/USD :Today, we expect to the pair euro against the U.S. dollar contact with the support level at 1.33900 and then followed by a rebound to the level 1.35250; determined Indicators show a signs of approaching saturation in the sales, stability of trading above the level of 1.33350 is necessary to achieve these expectations.




GBP/USD :The pair managed to achieve the support for the rising wedge through the price gap that has been achieved with opening trades this week; we expect that this decline does not exceed the level of 1.51500 then followed by a rebound to covering the price gap at the level of 1.53730.



USD/JPY :The pair is close to retesting breached resistance that has currently turned into support at 91.450, and momentum indicators are near to entering oversold areas, this leads us to expect an upward trend during the trading today, stability of trading above the level of 90.900 necessary to achieve these expectations.


Senior Analyst / Ali Hasan /FXCBS

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