Technical Analysis 13/04/2010 of FXCBS

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Tuesday April 13 , 2010

Previous session overview

[9:40:29 AM] Wael Salem: The Euro against the U.S. dollar traded in a narrow range in the Asian session between the lowest price at 1.35690 and the highest price at 1.35997, the pair trading now around the level of 1.35855.

Also the pair sterling against the U.S. dollar traded in a narrow range in the Asia session between the highest level at 1.53803 and the lowest level at 1.53364, the pair is currently trading around the level of 1.5740.

Finally the U.S. dollar against the Japanese Yen traded between the highest level at 93.271 and the lowest level at 92.572, the pair trading now around the level of 92.792.


Market Expectations

EUR/USD : Today, we expect continued volatility for the EUR against the U.S. dollar around the level of 1.36000 before declining to close the price gap at the level of 1.34980, stability of trading below the level of 1.36590 is necessary to achieve that.





GBP/USD : etermined indicators push the pair sterling against the U.S. dollar to rise, for that we expect a bullish intraday direction to the target of 1.54450 then to the level 1.55000, these expectations require stability of trading above the level of 1.53000.





USD/JPY :We expect a bullish intraday direction; first of its targets are around 93.35. Momentum indicators are approaching oversold areas and thus; supporting this expected bullish rebound.





Senior Analyst / Ali Hasan /FXCBS

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