Technical Analysis 31/05/2010 FXCBS

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Monday May 31 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asian session in a narrow range between the highest level at 1.23342 and the lowest level at 1.22590, the pair is currently trading around the level of 1.22946.

The pair Sterling against the U.S. dollar also traded during the Asian session between the highest level at 1.45049 and the lowest level at 1.44063, the pair trading now around the level of 1.44830.

Finally , the pair U.S. dollar against the Japanese Yen traded between the highest level at 91.616 and the lowest level at 90.920 , the pair trading now around the level 91.364.

Market Expectations

EUR/USD :etermined indicators show a positive signs for the pair Euro against U.S. This may lead the pair to rise to the level of 1.23750 then to the level 1.24600, stability of trading above the level of 1.21680 necessary to achieve these expectations.



GBP/USD :etermined indicators for the pair Sterling against the U.S. dollar show positive signs which may lead the pair to rise to the level 1.45514 then to the level 1.46310, stability of trading above the support level at 1.43560 necessary to achieve these expectations.




USD/JPY :The stochastic for the pair U.S. dollar against Japanese Yen is losing bullish momentum and is nearing overbought areas, which makes us expect a bearish trend today as its main targets start at 90.050 then 89.250.




Senior Analyst / Ali Hasan /FXCBS

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