Technical Analysis 9/03/2010 of FXCBS

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Tuesday March 9 , 2010

Previous session overview

The euro dollar pair is currently trading between the levels of 1.36400 levels and 1.33900, recording a high of 1.36352 and a low of 1.35956, having the union currency trading around 1.36086.

Regarding the pound dollar pair, it declined slightly in today's Asian session recording a low of 1.49771 and a high of 1.50658, having the royal currency trading around 1.49815.

Finally, the Japanese yen continued to rally against the federal currency and the pair recorded a low of 89.871 and a high of 90.330, while it is currently trading around 89.972.

Market Expectations

EUR/USD :
We expect today for the pair euro against the U.S. dollar to fluctuate around the support level of1.35850 before continuing the decline towards to the level of 1.35250 and then re-test the support level at 1.34350.



GBP/USD :
We expect today for the pair sterling against the U.S. dollar to fluctuate around the support level at 1.49850 before continue the process of depreciating to the first target at the level of 1.48600 and then 1.47750, these expectations requires constant trading below the 1.50800.



USD/JPY :
We expect a bearish intraday trend that will target first 89.300 then 88.600. It is vital that level 90.600 remain intact to maintain chances of achieving these expectations.



Senior Analyst / Ali Hasan /FXCBS

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