Technical Analysis 25/06/2010 FXCBS

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Friday June 25 , 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 1.22965 and the highest level at 1.23422, the pair trading now around the level of 1.23279.

The pair Sterling against the U.S. dollar also traded in a narrow range during the Asian session between the lowest level at 1.49157 and the highest level at 1.49740 , while the pair trading around the level of 1.49610.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asian session in a narrow range between the lowest level at 89.417 and the highest level 89.713 , the pair trading now around the level of 89.532.

Market Expectations

EUR/USD : Stability of the trading above the Moving Average 50 (MA 50 ) lead us to expect an uptrend today to the level of 1.24220 , stability of the support level 1.22400 is necessary to achieve these expectations , if the pair can penetrate it, we would expect to see a reversal in trend, traders should be very cautious today.




GBP/USD : etermined indicators for the pair Sterling against the U.S. dollar show a positive sign after the pair got rid from the negative sign which was shown through determined indicators yesterday, so we expect an uptrend for today to the pair Sterling against the U.S. dollar to the target of 1.50300.



USD/JPY : etermined Indicators for the U.S. dollar against the Japanese yen show a clear saturation in the selling process, which make us expect a corrective movement to the level of 90.450, we should note that the daily close below the level of 90.100 will open the way for the pair to continue the declining to the target of 88.250.



Senior Analyst / Ali Hasan /FXCBS

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