Technical Analysis 21/04/2010 of FXCBS

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Wednesday April 21 , 2010

Previous session overview

The pair of Euro against the U.S. dollar traded in a narrow range during the Asian session between the highest level at 1.34458 and the lowest level at 1.33979, the pair now trading around the level of 1.34287.

Also the pair sterling against the U.S. dollar traded in a narrow range during the Asian session, between the highest price at 1.53999 and the lowest price at 1.53326, the pair trading now around the level of 1.53959.

Finally the pair U.S. dollar against the Japanese Yen traded at the Asia session between the highest level at 93.282 and the lowest level at 92.972 , the pair trading now near to the level of 93.218.

Market Expectations

EUR/USD :The pair Euro against U.S. dollar reaches our target with high accuracy at the resistance level 1.35250 yesterday, then fall back to re-examine the support level at 1.33950, determined indicators show positive signs that may lead the pair to rise again to the resistance level at 1.35250.




GBP/USD : etermined Indicators for a couple of sterling against the U.S. dollar shows a positive signals which may lead the pair to rise to the level of 1.54800, stability of trading above the level 1.52850 necessary to achieve these expectations.



USD/JPY :We expect bearish intraday direction that will start when 92.820 is breached and heads towards 91.650. The breach of 93.450 will pave the way for a bullish rebound; determined indicators support our expectations.





Senior Analyst / Ali Hasan /FXCBS

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