Technical Analysis 17/02/10 of FXCBS

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

Wednesday February 17 , 2010

Previous session overview

The euro dollar pair is consolidating between the 1.37820 levels and 1.37370 levels recording a high of 1.37815 and a low of 1.37378, having the union currency trading around 1.37457.

Regarding the pound dollar pair, it is fluctuating between a high of 1.57921 and a low of 1.57596, having the royal currency trading around 1.57711.

Finally, the dollar yen pair is trading between a high of 90.370and a low of 90.125, and the pair is currently trading around 90.218.

Market Expectations

EUR/USD :
We expect an upward trend today for a couple of the euro against the U.S. dollar ,and starts after breakthrough the level of 1.36920 the aim at the level of 1.38000, this expectation requires stability of trading above 1.35500.



GBP/USD :
The levels of 1.57650 is still a strong resistance to the rise for the pair sterling against the U.S. dollar, and we expect today that the pair once again trying to break this level and we expect that up to levels of 1.58650 and further, to 1.59000.




USD/JPY :
Today we expect a downward trend and the expected goals located at 88.890 followed by 88.230, with the need to close the four hours candle below a 90.450 to ensure these expectations.



Senior Analyst / Ali Hasan /FXCBS
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