Technical Analysis 10/05/2010 of FXCBS

Monday May 10 , 2010

Previous session overview

The euro dollar pair inclined in the Asian session recording a high of 1.29682 and a low of 1.28072, having the union currency trading around 1.29584.

Regarding the pound dollar pair, it rose in the Asian session recording a high of 1.49066 and a low of 1.4761, having the royal currency trading around 1.48848.

Finally, the dollar gained against the Japanese yen recording a high of 92.891 and a low of 91.684, while the pair is currently trading around 92.862.

Market Expectations

EUR/USD :The trading on the pair Euro against the U.S. dollar opened with price gap at the beginning of trading of this week, we expect more uptrend correction today to the level of 1.30950 at the 61.8% Fibonacci, determined indicators support these expectations, stability of trading above the level of 1.28090 necessary to achieve these expectations.

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


GBP/USD :The pair Sterling against the U.S. dollar making a corrective movement with the beginning of the trading this week, we expect that this corrective movement will reach the level of 23.6% Fibonacci around the level of 1.50300, determined indicators support our expectations.

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


USD/JPY :etermined indicators and positive upward channel for the pair of U.S. dollar against the Japanese Yen lead us to expect an upward trend today to the target of 94.000; these expectations require stability of trading above the level of 90.850.

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

Senior Analyst / Ali Hasan /FXCBS

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Thanks for this analysis!