technical analysis of the day 07/12/09 of FXCBS

[fxcbsar]

Previous session overview

The euro against the dollar rose during the period of Asian to achieve at the highest price 1.49040, the pair now trading at the level 1.47967, while we are waiting for the day the Sentix Investor confidence from the European economy.

The pair Sterling against the U.S dollar achieves the highest price at 1.65153 during the Asian session, the pair now trading the price 1.63552.While the U.S dollar against the Japanese Yen was fall at the Asian session and achieves the lowest price at 89.696 , the pair trading now at the level 89.991.

Market Expectations

EUR/USD :
The EURO against the U.S. dollar was down at the end of trading on Friday at the end of last week after a vulnerability in some of the statements issued by the United States economy and achieve the lowest price at 1.48182, we expected that the pair will continues his down side to achieve a new goal at 1.47350 then the pair will make a correction to the level 1.49250, the Stochastic index supports our expectations.

GBP/USD :
We expected sterling against the U.S. dollar pair will drop today to the aim 1.62930 after that we expected that the pair will make a correction movement to the level 61.8% Fibonacci at the price 1.64400.

USD/JPY :
The U.S dollar against Japanese Yen achieve raising at the end of the trading last week to the level 90.700 , we expected today that the pair will make correction to the level 61.8% Fibonacci at the price 89.120 but we expected before that happen the pair will Affected in some volatility.