Technical Analysis 6/04/2010 of FXCBS

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Tuesday April 6 , 2010

Previous session overview

The Euro fell against the U.S. dollar in today’s trading, where the pair opened today’s trading at 1.3492 and achieve the highest at 1.34962 then set a low of 1.34136, the pair trading now around 1.34181.

The British Pound also fell against the U.S. dollar in today’s trading, where the pair opened today’s session at 1.52580 to set a low of 1.52109 and the highest at 1.53054 while currently trading at 1.52109.

Finally, the U.S. dollar against the Japanese Yen achieve the highest at 94.378 , and the lowest at 93.883 , where the pair trading now around the level of 94.068.

Market Expectations

EUR/USD :The pair euro against the U.S. dollar breakthrough the support level at1.34650, and decline to the level of 1.34136, we expect today a further drop to the target level at 1.33300.



GBP/USD :Today, we expect that the pair of sterling against the U.S. dollar will fluctuate around the level of 1.52000 before declining to the key support level at 1.51250, in the event of a breakthrough this point would move towards the new goals at the level of 1.50600.



USD/JPY :Today, we expect the pair dollar against the Japanese yen to do a corrective move downward to the level of 93.550, and then reverse to the level of 94.800, Stochastic supports these expectations.



Senior Analyst / Ali Hasan /FXCBS

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