Technical Analysis 23/02/10 of FXCBS

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

Tuesday February 23 , 2010

Previous session overview

The euro dollar pair rose slightly recording a high of 1.36784 and a low of 1.35886, having the 16 nation's currency trading around 1.36669.

As for the pound dollar pair, it inclined in the Asian session for the second straight day recording a high of 1.55749 and a low of 1.54751, having the royal currency trading around 1.55578.

Finally, the American dollar continued to weaken against the Japanese yen, and the pair recorded a low of 90.851 and a high of 91.289, it is currently trading around 90.901.

Market Expectations

EUR/USD :
Today we expect an upward trend for the pair euro against the U.S. dollar to the target level of 1.37850, the determined indicators supports our expectations which shows positive signs, to achieve this expectations we need a stable of trading above the level of 1.35850.



GBP/USD :
The pair sterling against the U.S dollar is to break through the resistance level at 1.55550 ,we must wait for the four hours candle to close above this level to confirm the completion of the rise for the pair towards to the level of 1.57650.



USD/JPY :
The pair continued its gradual descend we expect a bearish intraday direction that primary targets are at 89.450 then 88.980. The bearish technical pattern will be completed when main support is breached and then require trading to remain below 91.300 to maintain chances of achieving its targets.




Senior Analyst / Ali Hasan /FXCBS

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