Technical Analysis 26/04/2010 of FXCBS

Monday April 26 , 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 1.33974 and the lowest level at 1.33322, the pair trading now around the level of 1.33714.

The pair sterling against the U.S. dollar traded between the lowest level at 1.53727 and the highest level at 1.54549, the pair trading now around the level of 1.54556.

Finally the pair U.S. dollar against the Japanese Yen traded in narrow range between the lowest level at 93.932 and the highest level at 94.353 , the pair trading now around the level of 94.234.

Market Expectations

EUR/USD :We advised to monitor the price of the pair euro against the U.S. dollar today, the pair is still above the support level at 1.32850, determined indicators show emerging signs but we must monitor the resistance level at 1.33900 and support level at 1.32850 before determining the overall direction today.


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GBP/USD :The stability of trading for the pair sterling against the U.S. dollar above the support level at 1.53250 level and closing over it , leads us to expect upward trend today to the level 1.55280 and then 1.55450, stability of trading above the mentioned support level is necessary to achieve these expectations.

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


USD/JPY :We expect more of the upward trend today for the pair U.S. dollar against the Japanese Yen Substantive goals of the expected start at the level of 95.120, but this expectation requires four hours closing for the pair above the level of 93.350.

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Senior Analyst / Ali Hasan /FXCBS

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