Technical Analysis 25/03/2010 of FXCBS

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Thursday March 25 , 2010

Previous session overview

The euro dollar pair declined recording a low of 1.32836 and a high of 1.33471, having the union currency trading around 1.33191.

Regarding the pound dollar pair, it fell slightly in the Asian session recording a low of 1.48533 and a high of 1.49276, having the royal currency trading around 1.49143.

Finally, the dollar yen pair is consolidating between a high of 92.327 and a low of 91.762, and it is currently trading around 91.900.

Market Expectations

EUR/USD :RSI still points to the possibility of more bearish movement for today the oversold signs on Stochastic could cause some fluctuation and bullish correction remain target at 1.31300 then to 1.30000.




GBP/USD :The stochastic despite of it entering oversold areas is giving off a need for more bearish movement which could be opened alongside the RSI that points to the possibility of more bearish movement.




USD/JPY :We expect that the pair entered bullish wave that maintains the possibility of trading remaining above 90.95. Positive signs on momentum indicators that could be harmonic technical pattern that is currently being formed and with expectations of a bullish direction towards ascending levels.



Senior Analyst / Ali Hasan /FXCBS

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