Technical Analysis 4/08/2010 FXCBS

[fxcbsar]

Wednesday August 4 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded between the highest level at 1.32395 and the lowest level at 1.31833 , the pair trading now around the level of 1.32040.

Regarding to the pair sterling against the U.S. dollar also traded between the highest level at 1.59634 and the lowest level at 1.58917 , the pair trading now around the level of 1.59332.

Finally the pair U.S. dollar against the Japanese Yen traded between the lowest level at 85.325 and the highest level 85.905, the pair trading around the level of 85.771.

Market Expectations

EUR/USD : etermined indicators for the pair Euro against the U.S. dollar showing negative sign which may cause a decline for the pair to the level of 1.31150 which will start after the pair can breakthrough the level of 1.31850, stability of the trading below the level of 1.32940 necessary to achieve these expectations.



GBP/USD : We expect today a decline for the pair Sterling against the U.S. dollar to the level of 1.58000 in a corrective movement, stability of the trading below the level of 1.59950 necessary to achieve these expectations.



USD/JPY : The pair is trading within a narrow range since this morning, so we advice to monitor the trading today until we can get a clear expectations.



Senior Analyst / Ali Hasan /FXCBS

Newsletter

Forex ECN Broker | Currency Online Trading | Low Spread | Free Trading Software