Technical Analysis 7/09/2010 FXCBS

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Tuesday September 7 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the highest level at 1.28758 and the lowest level at 1.27866 , while the pair trading now around the level of 1.27947.

The pair Sterling against the U.S. dollar traded during the Asia session between the highest level at 1.54003 and the lowest level at 1.53520 , while the pair trading now around the level of 1.53670.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 84.043 and the highest level at 84.258, the pair trading now around the level 84.067.

Market Expectations

EUR/USD : We expect today a more decline for the pair Euro against the U.S. dollar to the level 1.26850, this decline will start after the pair can breakthrough the level of 1.27700, stability of the trading below the level of 1.28450 necessary to achieve these expectations.



GBP/USD : Stability of the trading for the pair Sterling against the U.S. dollar below the level MA50 and the positive sign which show through determined indicators may lead the pair for some fluctuations before the pair can continuo it’s declining .



USD/JPY : SMA 50 is still preventing the pair from reaching the resistance at 84.85; while a negative intersection on Stochastic signals that the previously suggested bearish intraday direction is still valid, with targets at 83.450then 83.000 that requires a four-hour closing below 84.850.



Senior Analyst / Ali Hasan /FXCBS

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