Technical Analysis 30/08/2010 FXCBS

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Monday August 30 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the highest level at 1.27670 and the lowest level at 1.27250 , while the pair trading now around the level of 1.27366.

The pair Sterling against the U.S. dollar traded during the Asia session between the highest level at 1.55579 and the lowest level at 1.55098, the pair trading now around the level of 1.50200.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the highest level at 85.903 and the lowest level at 85.184 , the pair trading now around the level of 85.200.

Market Expectations

EUR/USD : We expect today for the pair Euro against the U.S. dollar a decline to the level 1.26250 then to the level 1.25850, this decline will start after the pair can penetrate the support level at 1.27000, stability of the trading below the level 1.27510 necessary to achieve these expectations.



GBP/USD : etermined indicators for the pair Sterling against the U.S. dollar start show negative sign which may lead the pair to decline to the level of 1.54400 to retest this level before we can say that the pair can decline more to the level 1.53850, stability of the trading below the level of 1.55550 necessary to achieve these expectations.




USD/JPY : We expect today a decline for the pair U.S. dollar against the Japanese Yen to the level 84.230 , determined indicators support our expectations , these expectations require stability of the trading below the level of 85.900.



Senior Analyst / Ali Hasan /FXCBS

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