Technical Analysis 7/04/2010 of FXCBS

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Wednesday April 7 , 2010

Previous session overview

The Euro fell against the U.S. dollar in today’s trading, where the pair opened today’s trading at 1.34050 and achieve the highest at 1.34083 then set a low of 1.33590, the pair trading now around 1.33669.

The British Pound also rose against the U.S. dollar in today’s trading, where the pair opened today’s session at 1.52330 to set a low of 1.52273 and the highest at 1.52743 while currently trading at 1.52349.

Finally, the U.S. dollar against the Japanese Yen achieve the highest at 94.265 , and the lowest at 93.557 , where the pair trading now around the level of 94.029.

Market Expectations

EUR/USD :We expect more bearish movement over the intraday basis. Upcoming targets are 1.3270, and there are chances of a bullish intraday rebound could appear if pivotal resistance levels between 1.3410 – 1.3460 are not breached.



GBP/USD :We expect a direction bullish for today and targets around 1.53850, this expectation requires a constant trading above the support level at 1.51250.



USD/JPY :Bullish momentum appearing on Stochastic for the pair U.S. dollar against Japanese Yen , so we expect a bullish trend for today where its targets start at 94.700.



Senior Analyst / Ali Hasan /FXCBS

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