Technical Analysis 9/02/10 of FXCBS

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This is Technical analysis daily provided by specialists and analysts from FXCBS

Tuesday February 9 , 2010

Previous session overview

The euro dollar pair inclined to record a high of 1.37437 and a low of 1.36427, having the union currency trading around 1.37238.

As for the pound dollar pair, it gained slightly recording a high of 1.56456 and a low of 1.55642, having the royal currency trading around 1.56160.

Finally, the dollar gained against the Japanese yen to record a high of 89.633 and a low of 89.157, and the pair is currently trading around 89.549.

Market Expectations

EUR/USD :
The pair Euro against U.S. dollar making a corrective movement which may achieve the level of 1.38500, we expect an upward trend today for the pair to that level, this expectation require constant of trading above the level 1.36400.



GBP/USD :
the pair Sterling against U.S. dollar is making a corrective movement and we are waiting for breakthrough the resistance level at 1.56660 to open the road in front of the pair to complete its corrective to the level of 1.57700, this expectation require constant of trading above the level of 1.55500.



USD/JPY :
We wait for today a bearish intraday direction; targeting 88.450 then 87.750. A break of 89.090 will help the bearish trend gain speed to the level 88.450.



Senior Analyst / Ali Hasan /FXCBS
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