Technical Analysis 11/02/10 of FXCBS

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


Thursday February 11 , 2010

Previous session overview

The euro dollar pair declined recording a low of 1.37337 and a high of 1.38067, having the union currency trading around 1.37732.

Regarding the pound dollar pair, it inclined to record a high of 1.56601 and a low of 1.55867, having the royal pound trading around 1.56062.

Finally, the dollar yen pair is trading between a high of 90.135 and a low of 89.816, and the pair is currently trading around 89.961.


Market Expectations

EUR/USD :
Stochastic as to several indicators showing positive signs for the pair the euro against the U.S. dollar, which makes us expect an upward trend of trading today are aimed at the level of 1.39000, and this expectation requires constant of trading above the level 1.37250.



GBP/USD :
Sterling against the U.S. dollar has not been able to penetrate the level of support yesterday under the influence of positive signals that have emerged through the determined indicators we expect on an upward trend today to the targets level at 1.58500.



USD/JPY :
We expect today a bearish intraday direction which requires first the breach of 89.550 then paving the way towards the first target around 88.500. It is vital that 91.320 remain intact so these expectations may prevail.



Senior Analyst / Ali Hasan /FXCBS
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