Technical Analysis 19/10/2010 FXCBS

Tuesday October 19 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.38853 and the highest level at 1.40045, the pair trading now around the level of 1.39149.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.58139 and the highest level at 1.59420, the pair trading now around the level of 1.58381.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 81.140 and the highest level at 81.551 , the pair trading now around the level of 81.371.

Market Expectations

EUR/USD : We expect in general that the pair Euro against the U.S. dollar still in a bullish movement until now, and the downside for the pair still just a correction movement for the pair, stability of the trading above the level of 1.39100 help us to expect that the pair will return to rise up again to retest the level of 1.40700, these expectations require stability of the trading above the level of 1.39100.

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

GBP/USD : We expect today that the pair Sterling against the U.S. dollar will rise up to the level 1.60000 first then to the level of 1.60490, these expectations require stability of the trading above the level of 1.59000.

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

USD/JPY : We expect a bullish intraday trend, supported by a bullish crossover appearing on Stochastic. The expected targets start at 82.450 then 82.850, which require the daily closing above 81.000 to prevail.

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

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