Technical Analysis 2/11/2010 FXCBS

Tuesday November 2 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.38816 and the highest level at 1.39460, the pair trading now around the level of 1.39215.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.60304 and the highest level at 1.60766, the pair trading now around the level of 1.60500.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 80.456 and the highest level at 80.754 , the pair trading now around the level of 80.620.

Market Expectations

EUR/USD : We expect today a down correction for the pair Euro against the U.S. dollar to the level of 1.38420 , determined indicators support our expectation which is showing saturation in the purchasing process .

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

GBP/USD : The pair Sterling against the U.S. dollar success to breakthrough the level 1.60000 , but we can see saturation in the purchasing process which will cause a downside for the pair to the level of 1.59250 then 1.58850 , these expectations require stability of the trading below the level of 1.60500.

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 81.150 then 81.850, which require the daily closing above 80.000 to prevail.

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

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