Technical Analysis 17/09/2010 FXCBS

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Friday September 17 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the day between the highest level at 1.31593 and the lowest level at 1.3052, the pair trading now around the level of 1.30764.

The pair Sterling against the U.S. dollar traded during the day between the highest level at 1.57292 and the lowest level at 1.55949, the pair trading now around the level of 1.56470.

Finally the pair U.S. dollar against the Japanese Yen traded during the day in a narrow range between the lowest level at 85.594 and the highest level at 85.931 , while the pair trading now around the level of 85.702.


Market Expectations

EUR/USD : We expect that the pair Euro against the U.S. dollar will continuo it’s correction to the level 1.30060 to get red from the negative sign which show through determined indicators , then the pair will return to rise up to the target of 1.32150, these expectation require stability of the trading above the level 1.30000.



GBP/USD : We expect for the pair Sterling against the U.S. dollar today a Upwards trend to the target of 1.57350 four hours candle stick support our expectations, these expectation require stability of the trading above the level of 1.55550.




USD/JPY : The pair U.S. dollar has been trading within a narrow range since this morning; we still wait a bearish correction to build a base on 85.20 before the awaited intraday bullishness. The daily closing must prevail achieved above 84.55 for our expectations to prevail.



Senior Analyst / Ali Hasan /FXCBS

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