Technical Analysis 21/10/2010 FXCBS

Thursday October 21 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.38711 and the highest level at 1.39814, the pair trading now around the level of 1.39644.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.57273 and the highest level at 1.58500, the pair trading now around the level of 1.57383.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 80.918 and the highest level at 81.827 , the pair trading now around the level of 81.156.

Market Expectations

EUR/USD : We expect today that the pair Euro against the U.S. dollar will down to the level 1.38400 first then to the level 1.36600 , determined indicators support our expectations , these expectations require stability of the trading below the level 1.40200 .


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

GBP/USD : We expect today that the pair Sterling against the U.S. dollar will down to the level of 1.57000 then to the level 1.56250, these expectations require stability of the trading below the level of 1.58500.

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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