Technical Analysis 22/06/2010 FXCBS

Tuesday June 22 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asian session between the highest level at 1.23540 and the lowest level at 1.22843, while the pair is currently trading around the level of 1.22957.

The pair Sterling against the U.S. dollar the pair traded during the Asian session between the highest level at 1.47971 and the lowest level at 1.47257, the pair trading now around the level of 1.47283.

Finally , the pair U.S. dollar against the Japanese Yen traded during the Asian session between the highest level at 91.100 and the lowest level at 90.779 , while the pair trading now around the level of 90.812.

Market Expectations

EUR/USD :Oversold signs on Stochastic for the pair Euro against the U.S. dollar which may causing a bullish rebound, the moving average 50(MA 50) is a support level can stop the declining of the pair, for that we expect today a bullish trend for the pair to the level of 1.24000 then to the level of 1.24620, stability of trading above the level 1.22600 necessary to achieve these expectations.

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


GBP/USD :The moving average 50 and the stabilizing of the trading between 1.4730 and 1.4770 for the pair Sterling against the U.S. dollar represent the meeting point with support represented in 61.8% Fibonacci, also stochastic indicators show positive sign, all of that lead us to expect a bullish intraday to the target of 1.49350, stability of trading above the level of 1.46500 necessary to achieve these expectations.

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

USD/JPY :We expect a decline for the pair U.S. dollar against the Japanese Yen to the target of 89.800, these expectation require stability of trading below the level of 92.000 , since yesterday the pair still trading at the same range so we expect today that these expectations will be achieve .

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

Senior Analyst / Ali Hasan /FXCBS

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