Technical Analysis 22/04/2010 of FXCBS

Thursday April 22 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded in a narrow range during the Asian session between the highest level at 1.33972 and the lowest level at 1.33736, the pair is now trading around the level of 1.33941.

The pair sterling against the U.S. dollar also traded in a narrow range during the Asian session between the highest level at 1.54320 and the lowest level at 1.53990, the pair is trading now around the level of 1.54273.

Finally the pair U.S. dollar against Japanese Yen traded between the lowest price at the level of 92.743 and the highest price at the level of 93.187 , the pair trading now around the level of 92.887.

Market Expectations

EUR/USD :Trading for the pair the euro against the U.S. dollar still confined within a narrow range, determined Indicators show a positive sign lead us to expect an upward trend for the pair today; Our primary expectation level is at the resistance level of 1.34050 then to the target of 1.34850 and 1.35250.

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


GBP/USD :Today, we expect bullish movement for a couple of sterling against the U.S. dollar to the level of 1.55000 , then turns down towards to the target 1.53000, stability of trading below the level of 1.55180 necessary to achieve this expectations .

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


USD/JPY :The pair U.S dollar against the Japanese Yen could not achieve a breakthrough to the level of 93.450, So today we expect that the pair will fall to the level of 91.550 , these expectations require close four hours candle below the level of 93.450.

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

Senior Analyst / Ali Hasan /FXCBS

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