Technical Analysis 14/06/2010 FXCBS

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Monday June 14 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asian session between the lowest level at 1.21160 and the highest level at 1.22076, the pair is currently trading around the level of 1.21881.

The pair Sterling against the U.S. dollar traded during the Asian session between the lowest level at 1.45507 and the highest level at 1.46270, the pair is currently trading around the level of 1.46256.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asian session in a narrow range between the lowest level at 91.603 and the highest level at 91.977, the pair is currently trading around the level of 91.956.

Market Expectations

EUR/USD :We expect today Bullish trend for the pair Euro against the U.S. dollar to the target of 1.22230 then to the target of 1.23160, determined indicators show a positive signs to support our expectations , if the pair penetrates the level of 1.23160 that will open the way to continue its bullish direction to the more gains.



GBP/USD :We expect today a decline for the pair Sterling against the U.S. Dollar to the target of 1.46040 then to the target of 1.45500, stochastic indicators shows negative signs on the one hour candlestick which support our expectations today, but the general trend for this week still upward if the pair still above the moving average 100.



USD/JPY :Positive signs show from the stochastic indicators for the pair U.S. dollar against the Japanese Yen , which make us expect a bullish trend for the pair to the target of 92.950, these expectation require stability of trading above the level of 90.650 , while the price still facing strong resistance at moving average 50.



Senior Analyst / Ali Hasan /FXCBS

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