Technical Analysis 19/08/2010 FXCBS

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Thursday August 19 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.27811 and the highest level at 1.28618 , while the pair trading now around the level of 1.28123.

Regarding to the pair Sterling against the U.S. dollar the pair trading during the Asia session between the highest level at 1.56059 and the lowest level at 1.55505, the pair trading now around the level of 1.55578.

Finally the pair U.S. dollar aginst the Japanese Yen traded during the Asia session between the lowest level at 85.333 and the highest level at 85.860 , while the pair trading now around the level of 85.810.

Market Expectations

EUR/USD : We expect today a decline for the pair Euro against the U.S. dollar to the support level at 1.27300 then after penetrate it , the pair will go to the target of 1.26680 , stability of the trading below the level 1.28300 support our expectations.




GBP/USD : We expect a decline for the pair Sterling against the U.S. dollar , which will start after the pair can breakthrough the level 1.55300 , the pair will decline to the level of 1.54200 , stability of the trading below the level of 1.56000 support our expectation .




USD/JPY : We expect today an upward trend for the pair U.S. dollar against the Japanese Yen to the target of 86.450 then to the level 86.900 , stability of the trading above the level 85.000 necessary to achieve these expectations.



Senior Analyst / Ali Hasan /FXCBS

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