Technical Analysis 23/04/2010 of FXCBS

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Friday April 23 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded in the Asian session in a narrow range diagonally downwards, the highest price was at the level of 1.32955 and the lowest price was at the level of 1.32017, the pair trading now around the level of 1.32282.

Regarding the pound dollar pair, it inclined recording a high of 1.53975 and a low of 1.53151, having the royal currency trading around 1.53210.

Finally the pair U.S. dollar against the Japanese Yen traded in a narrow range between the highest level at the price of 93.632 and the lowest level at the price of 93.310 , the pair trading now around the level of 93.407.

Market Expectations

EUR/USD :etermined Indicators for the pair euro against the U.S. dollar is approaching to saturation levels in sales, so we expect a rise today for the pair to the first target level at 1.33200 then to the level of 1.33780, stability of trading above the level of 1.31700 necessary to achieve those expectations.




GBP/USD :The resistance level at 1.54850 is still standing strong barrier Preventing the pair to continues its bullish trend, this level has forced the pair to return within the downward path again, which leads us to expect a drop to the level of 1.52250, stability of trading below the level of 1.54850 necessary to achieve those expectations.




USD/JPY :We expect today for the pair U.S. dollar against the Japanese Yen a bullish direction over an intraday basis and require stability above the neckline in addition to stability 92.750. The awaited targets start at 94.050 then 94.650.




Senior Analyst / Ali Hasan /FXCBS

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