Technical Analysis 12/11/2010 FXCBS

Friday November 12 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.35920 and the highest level at 1.36698, the pair trading now around the level of 1.36220.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.60435 and the highest level at 1.61336, the pair trading now around the level of 1.60573.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 81.949 and the highest level at 82.540 , the pair trading now around the level of 82.012.

Market Expectations

EUR/USD : The pair Euro against the U.S. dollar fall down strongly from the level 1.38000 we expect a small correction to the level 1.37350 before continue it's falling to the level 1.34800.


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 1.61500 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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