Technical Analysis 2/08/2010 FXCBS

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Monday August 2 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.30000 and the highest level at 1.30880, the pair trading now around the level of 1.30875.

Regarding to the pair Sterling against the U.S. dollar it’s traded during the Asia session between the lowest level at 1.56955 and the highest level at 1.57417 , while the pair trading now around the level of 1.57382.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 86.285 and the highest level at 86.710 , the pair trading now around the level of 86.544.

Market Expectations

EUR/USD : etermined indicators show negative sign for the pair Euro against the U.S. dollar may lead the pair to decline to retest the level of 1.299500 which is represented 61.8% Fibonacci before it can continuo it’s raising , stability of these level necessary to achieve these expectations.



GBP/USD : etermined indicators show negative sign which may lead the pair to decline to the level 1.54400 today, stability of the trading below the level of 1.57500 necessary to achieve these expectations.



USD/JPY : The pair U.S dollar against the Japanese yen stabilized below the main resistance at 86.600, determined indicators show positive signals that might cause fluctuations around that level today, so we should monitor the price today before take any position



Senior Analyst / Ali Hasan /FXCBS

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