Technical Analysis 5/11/2010 FXCBS

Friday November 5 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.41780 and the highest level at 1.42488, the pair trading now around the level of 1.42199.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.61805 and the highest level at 1.62945, the pair trading now around the level of 1.62098.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 80.629 and the highest level at 80.991 , the pair trading now around the level of 80.724.

Market Expectations

EUR/USD :The pair Euro against the U.S. dollar couldn't stable above the support level 1.42220 yesterday , the pair trading now around the level 1.41850 if it can breakthrough it that will cause a downside for the pair to the level of 1.41000 then to the target 1.40400 so we should be careful today and monitor the price level very well .

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

GBP/USD :Negative signs appearing through momentum indicators for the pair Sterling against the U.S. dollar so we expect that some fluctuation might be witnessed and a minor bearish correction before resuming the expected bullish intraday direction to the target 1.63500, these expectations require stability of the trading above the level of 1.61510.

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

USD/JPY :We expect for the pair U.S. dollar against the Japanese Yen that the direction is a bearish one over an intraday basis, where targets start at 79.850 that essentially need to build a base below 81.450 to prevail.

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


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