Technical Analysis 22/11/2010 FXCBS

Monday November 22 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.37100 and the highest level at 1.37860, the pair trading now around the level of 1.37790.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.59681 and the highest level at 1.60667, the pair trading now around the level of 1.60608.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 83.340 and the highest level at 83.562 , the pair trading now around the level of 83.380.

Market Expectations

EUR/USD : Opening trading for the pair Euro against the U.S. dollar today represents the bullish gap that may push the pair to resume the bearish trend to cover this gap – around 1.36900 – before heading towards up; these expectations require stability of the trading above the level MA50 around the level of 1.35500.

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GBP/USD : bullish signs appearing through stochastic indicators for the pair Sterling against the U.S. dollar leading us to expect an up trend to the level of 1.61000 , these expectations require daily close above the level 1.59800.

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

USD/JPY : The 50 MA supports the pair U.S. dollar against Japanese Yen from below so we expect a bullish intraday direction targeting 84.200, stability of the trading above the level of 82.800 necessary to achieve these expectations.


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