Technical Analysis 24/02/10 of FXCBS

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

Wednesday February 24 , 2010

Previous session overview

The euro dollar pair recorded a high of 1.35509 and a low of 1.35018, having the union currency trading around 1.35320.

The pound dollar pair consolidated in the Asian session, the pair recorded a high of 1.54640 and a low of 1.54178.

The dollar yen pair recorded a low of 90.092 and a high of 90.355, while the pair is currently trading around 90.229.


Market Expectations

EUR/USD :
We expect today a decline for the pair Euro against U.S dollar to achieve anew target at the level 1.33800, this decline will start after breakthrough the support level at 1.34840 , and these expectations require stability of trading below 1.35850.



GBP/USD :
The pair Sterling against U.S dollar still fluctuates near the resistance level at 1.54450; we must wait closing for the four hours candle below this level to say that the pair will decline to achieve new goals at 1.53120 and 1.52000.



USD/JPY :
we expect a bearish intraday trend; targeting 89.500 then 88.920. Keep in mind that the breach of 90.650 weakens the expected bearish direction.



Senior Analyst / Ali Hasan /FXCBS

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