Technical Analysis 20/09/2010 FXCBS

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Monday September 20 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.30338 and the highest level at 1.31048, the pair trading now around the level 1.30960.

The pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.56365 and the highest level at 1.56849, the pair trading now around the level 1.1.56753.

Finally the pair U.S. dollar traded during the Asia session in a narrow range between the lowest level at 85.640 and the highest level at 85.769 , while the pair trading now around the level of 85.650.

Market Expectations

EUR/USD : etermined indicators for the pair Euro against the U.S. dollar show negative sign which may lead the pair to make a corrective movement to the level 1.29350 before return to rise up to the level 1.3245 then 1.33300.



GBP/USD : We expect today that the pair Sterling against the U.S. dollar will make a corrective movement to retest the support level at 1.55600 before it can raise more to the target of 1.58250; these expectations require stability of the trading above the level of 1.55600.



USD/JPY : The pair U.S. dollar against the Japanese Yen is moving within a narrow range after the ascend it achieved last week, where this fluctuation is considered to be an attempt to rid of the negative momentum appearing through the daily time frame we minor bearish correction is expected for the pair that my build a base on 23.6% Fibonacci (85.000) from the mentioned sharp ascend – before heading towards resuming the expected bullish trend today



Senior Analyst / Ali Hasan /FXCBS

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