Technical Analysis 17/08/2010 FXCBS

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Tuesday August 17 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.28041 and the highest level at 1.28653, the pair trading now around the level of 1.28455.

The pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.56367 and the highest level at 1.56953 , while the pair trading now around the level of 1.56658.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the highest level at 85.440 and the lowest level 85.113 , the pair trading now around the level of 85.225.

Market Expectations

EUR/USD : etermined indicators for the pair Euro against the U.S. dollar give us a negative sign, so we expect today a decline for the pair to the level 1.27300 then to the level 1.26840, stability of the trading below the level of 1.29080 necessary to achieve these expectations.



GBP/USD : etermined indicators for the pair Sterling against the U.S. dollar show negative sign , and the resistance point 1.56950 still stop in front of the pair so we expect today a decline for the pair to the level 1.56090 then to the level 1.55440 .



USD/JPY : we expect a bullish intraday direction that requires two major factors; first, the breach of 86.220, second is building a base above 85.200. Stochastic is nearing oversold areas that play a vital role in supporting the expected bullish scenario.




Senior Analyst / Ali Hasan /FXCBS

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