Technical Analysis 2/03/2010 of FXCBS

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This is Technical analysis daily provided by specialists and analysts In FXCBS
Tuesday March 2 , 2010

Previous session overview

The euro dollar pair declined to record a low of 1.35044 and a high of 1.35766, while it is currently trading around 1.35104.

Regarding the pound dollar pair, it declined as well to record a low of 1.48510 and a high of 1.49981, having the royal currency trading around 1.48627.

Finally, the dollar gained against the Japanese yen after the pair declined sharply last week as traders targeted the low yielding yen. The pair recoded a low of 89.073 and a high of 89.369.


Market Expectations

EUR/USD :
We expect Today a decline for a couple of the euro against the U.S. dollar first re-designed to test the support, level at 1.34850 then 1.34190 ,In the case of penetration of these levels go towards new goals to the level of1.33250.



GBP/USD :
Stochastic indicators show negative signs for a couple of sterling against the U.S. dollar, which makes us expect a downward trend today for the pair to test again the level of 1.47800.



USD/JPY :
We expect a downward trend for a couple of the U.S. dollar against the Japanese yen today resides on the main objectives of 88.200. Wave short-term downside require the closure of four hours below the level 90.300.



Senior Analyst / Ali Hasan /FXCBS

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