Technical Analysis 29/11/2010 FXCBS

Monday November 29 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.31812 and the highest level at 1.32895, the pair trading now around the level of 1.32601.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.55595 and the highest level at 1.56291, the pair trading now around the level of 1.56270.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 83.876 and the highest level at 84.194 , the pair trading now around the level of 83.987.

Market Expectations

EUR/USD : We advice our clients to take care during the trade today , we can see tow ways for the pair Euro against the U.S. dollar the first way we can see that the determined indicators showing saturation in the selling process which may cause an up trend for the level 1.36000 this way need penetration for the level 1.32850 and a daily close above it , the second way which we can see that the price level stable below the level (M.A 50)which may push the pair to down to the level 1.30980 then 1.29190, so we advice to monitor the price until we get a clear direction for the pair .

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GBP/USD : The pair Sterling against the U.S. dollar continued its bearish pressure to the level 1.55590, positivity of momentum indicators could push the pair to the level of 1.56750, and then the pair could back to the bearish movement to achieve new target.

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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