Technical Analysis 28/04/2010 of FXCBS

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Wednesday April 28

Previous session overview

The pair euro against the U.S. dollar traded in a narrow range during the Asian session between the highest level at 1.32175 and the lowest level at 1.31440, the pair trading now around the level of 1.32066

Also sterling against the U.S. dollar traded in a narrow range during the Asian session between the highest level at 1.52882 and the lowest level at 1.52254, the pair is now trading round the level of 1.52690.

Finally the pair U.S. dollar against the Japanese Yen traded in a narrow range between the lowest price at 92.992 and the highest price at 93.354, the pair trading now around the level of 93.282.

Market Expectations

EUR/USD :The negative pressure continued on the pair Euro against U.S. dollar trading returns within the previously breached descending channel we expect the neckline to be retested before heading towards achieving more bearish intraday targeting 1.31250 These expectations require the four-hour candlestick closing below 1.33090.



GBP/USD :A bullish momentum appearing on Stochastic and RSI for the couple of Sterling against U.S. dollar could push the pair to slightly correct bullishly before continuing its bearish intraday trend. The breach of 1.53550 returns the bullish direction's pace once again.0



USD/JPY :The pair stabilized below MA 50 adding negative pressure onto the pair pointing to more bearish intraday movement we expect a bearish direction today targets start at 92.850 then 92.340



Senior Analyst / Ali Hasan /FXCBS

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