Technical Analysis 28/10/2010 FXCBS

Thursday October 28 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.37634 and the highest level at 1.38443, the pair trading now around the level of 1.38399.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.57638 and the highest level at 1.58290, the pair trading now around the level of 1.57983.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 81.371 and the highest level at 81.774 , the pair trading now around the level of 81.381.

Market Expectations

EUR/USD : Stability of the trading for the pair Euro against the U.S. dollar below the resistance level 1.38500 (MA 50) and the saturation in the purchasing process which is showing through determined indicators lead us to expect a downside for the pair to the level of 1.37500 then to the level of 1.36600 today .

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GBP/USD : The pair Sterling against the U.S. dollar was able to stabilize below pivotal support 1.58500 , so we expect a bearish intraday direction targeting 1.55500 , stability of the trading below the level of 1.58500 necessary to achieve these expectations .

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

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