Technical Analysis 11/11/2010 FXCBS

Thursday November 11 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.37544 and the highest level at 1.380206, the pair trading now around the level of 1.37912.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.61070 and the highest level at 1.61712, the pair trading now around the level of 1.61640.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 82.240 and the highest level at 82.315 , the pair trading now around the level of 82.192.

Market Expectations

EUR/USD : The pair Euro against the U.S. dollar rebounded strongly to the upside to stabilize around pivotal 1.37900 we expect a bullish intraday direction that will initially start with a clear breach of 1.38000 and head towards levels 1.39750 – 1.4000 , stability of the trading above the level 1.37350 necessary to achieve these expectations .

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

GBP/USD : The pair Sterling against the U.S. dollar rebounded accompanied by stochastic showing overbought signs which may cause some fluctuation before insuring the upcoming direction for the pair we expect a bullish intraday direction that essentially requires 1.61900 to be breached, the target will be at 1.62900; these expectations require stability of the trading above the level of 1.60800.

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 80.850 that essentially need to build a base below 82.450 to prevail.

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


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