Technical Analysis 28/06/2010 FXCBS

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Monday June 28 , 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 1.23515 and the highest level at 1.23973, the pair is currently trading around the levels of 1.23553.

The pair Sterling against the U.S. dollar also traded in a narrow range during the Asian session between the lowest level at 1.50198 and the highest level at 1.50722, the pair is currently trading around the level of 1.50292.

Finally , the pair U.S. dollar against the Japanese Yen traded in a narrow range during the Asian session between the lowest level at 89.254 and the highest level at 89.453, the pair is currently trading around the level of 89.422.

Market Expectations

EUR/USD :The pair Euro against the U.S. dollar traded in a narrow range between the level of 1.23500 and 1.24500 since last week , determined indicators for the four hours candlestick show a saturation in the purchasing process may lead the pair to do a small corrective to the level 1.22900 which we should monitor it, cause if it can breakthrough it the pair may decline more , and if the pair can close four hours candlestick above the level of 1.24500 that may open the way for more bullish trend for the pair, so we advice to monitor the price very well before take any decision.




GBP/USD : etermined indicators for the pair Sterling against the U.S. dollar shows a negative signs that may lead the pair to do a corrective movement to the level of 1.49760 then to the level 1.49130. Stability of the price above the level of 1.49000 is necessary for the pair to return to the uptrend.




USD/JPY : etermined indicators for the pair U.S. dollar against the Japanese Yen is approaching saturation in the selling process, so we expect today an uptrend for the pair in a corrective movement to the level of 89.920.



Senior Analyst / Ali Hasan /FXCBS

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