Technical Analysis 23/08/2010 FXCBS

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Monday August 23 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.26897 and the highest level at 1.27293, the pair trading now around the level of 1.27226.

Regarding to the pair Sterling against the U.S dollar also traded during the Asia session between the lowest level at 1.55209 and the highest level 1.559991 , while the pair trading now around thelevel of 1.55985.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 85.304 and the highest level at 85.703 , the pair trading now around the level of 85.382.

Market Expectations

EUR/USD : We expect today a small correction for the pair to the level 1.56440 then decline to the level of 1.54230 first then to the target of 1.53600, stability of the trading below the level of 1.56970 necessary to achieve these expectations .




GBP/USD : We expect today a decline for the pair Euro against the U.S. dollar to the level of 1.25440 , determined indicators show negative sign support our expectations , stability of the trading below the level of 1.27590 necessary to achieve these expectation .




USD/JPY : etermind indicators for the pair U.S. dollar against the Japanese Yen show positive sign which may lead the pair to raise up to the level of 85.930 , stability of the trading above the level of 85.070 necessary to achieve these expectations.



Senior Analyst / Ali Hasan /FXCBS

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