Technical Analysis 20/10/2010 FXCBS

Wednesday October 20 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.36976 and the highest level at 1.38012, the pair trading now around the level of 1.37802.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.56500 and the highest level at 1.57453, the pair trading now around the level of 1.57158.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 81.232 and the highest level at 81.661 , the pair trading now around the level of 81.313.

Market Expectations

EUR/USD : We expect today that the pair Euro against the U.S. dollar will rise to the level 1.38400 to get-red the positive determined which is showing through determined indicators , then the pair will return to down to the first target at 1.36500 then to the level 1.35800.

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 1.58000 then return to down to the level of 1.57000 then to the level 1.56250, these expectations require stability of the trading below the level of 1.58000.

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 82.000 then 82.450, which require the daily closing above 81.000 to prevail.

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


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