Technical Analysis 28/07/2010 FXCBS

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Wednesday July 28 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asian session between the lowest level at 1.29665 and the highest level at 1.30161, the pair trading now around the level of 1.30109.

Regarding to the pair Sterling against the U.S. dollar traded during the Asian session between the lowest level at 1.55623 and the highest level 1.56171, the pair trading now around the level of 1.56149.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asian session between the lowest level at 87.653 and the highest level at 87.918 , the pair trading now around the level of 87.841.

Market Expectations

EUR/USD : We expect today that the pair Euro against the U.S. dollar will test the resistance level at 1.30650 then decline to the level 1.29110, determined indicators for the daily and for the four hours candlestick support our expectations.



GBP/USD : etermined indicators for the pair Sterling against the U.S. dollar show negative signs which may lead the pair to decline to get rid of the negative signs before heading back to a bullish trend.



USD/JPY : The pair strongly pushed to the upside due to the positive signs appearing on Stochastic that is currently nearing overbought areas, our expectations will remain intact as long as the four-hour closing remains below 87.660.



Senior Analyst / Ali Hasan /FXCBS

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