Technical Analysis 24/08/2010 FXCBS

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Tuesday August 24 , 2010

Previous session overview

The Pair Euro against the U.S. dollar traded today betweeen the highest level at 1.26593 and the lowest level at 1.26034 , while the pair trading now around the level of 1.2123.

The pair Sterling against the U.S. dollar traded today between the highest level at 1.55146 and the lowest level at 1.53726 , the pair trading now around the level of 1.53933.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the highest level at 85.192 and the lowest level at 84.153, while the pair trading now around the level of 84.240.

Market Expectations

EUR/USD : We expect today for the pair Euro against the U.S. dollar will make a small corrective movment to the level of 1.26700 then return to decline to the target of 1.25250 , stability of the trading below the level of 1.27300 necessary to achieve these expectations .



GBP/USD : We expect today a corrective movment to the pair Sterling against the U.S dollar to the level of 1.54950 before the pair can penetrate the support level 1.53700 , stability of the trading below the level of 1.55100 necessary to achieve our expectations .



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 85.220 , stability of the trading above the level of 85.070 necessary to achieve these expectations.



Senior Analyst / Ali Hasan /FXCBS

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