Technical Analysis 15/11/2010 FXCBS

Monday November 15 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.36551 and the highest level at 1.37505, the pair trading now around the level of 1.36591.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.60863 and the highest level at 1.61536, the pair trading now around the level of 1.60938.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 82.394 and the highest level at 82.973 , the pair trading now around the level of 82.912.

Market Expectations

EUR/USD : Stability of the trading below the level 1.37700 for the pair Euro against the U.S. dollar and the saturation in the purchasing process may lead the pair today to decline to the level of 1.34800.these expectations require stability of the trading below the level 1.37700.

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 81.850 that essentially need to build a base below 83.100 to prevail.

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


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