Technical Analysis 9/06/2010 FXCBS

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Wednesday June 9 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asian Session in a narrow range between the lowest level at 1.19239 and the highest level at 1.19779, the pair trading now around the level of 1.19564.

Regarding to the pair Sterling against the U.S. dollar also traded during the Asian session in a narrow range between the lowest level at 1.43958 and the highest level at 1.44737, the pair trading now around the level of 1.44514.

Finally the pair U.S. dollar against the Japanese Yen trading also in a narrow range during the Asian session between the lowest level at 91.242 and the highest level at 91.612 , the pair is currently trading around the level of 91.508.

Market Expectations

EUR/USD :We expect today for the pair Euro against the U.S. dollar to do a small corrective movement to retest the resistance level at 1.20000, then decline again to the target of 1.18000 then to the target 1.17400, stability of trading below the resistance level at 1.20000 necessary to achieve these expectations.




GBP/USD :etermined indicators for the pair Sterling against the U.S. dollar are approaching to show negative signs, which lead us to expect a decline for the pair to the target of 1.42200, stability of trading below the level of 1.45671 necessary to achieve these expectation.




USD/JPY :We expect today a decline for the pair U.S. dollar against the Japanese Yen which will start after the penetration of the support level at 90.850, then to the target of 90.00 , stability of trading below the level of 92.850 necessary to achieve these expectations.



Senior Analyst / Ali Hasan /FXCBS

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