Technical Analysis 21/09/2010 FXCBS

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Tuesday September 21 , 2010
Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session in a narrow range between the lowest level at 1.30575 and the highest level at 1.30998, the pair trading now around the level of 1.30760.

The pair Sterling against the U.S. dollar traded during the Asia session in a narrow range between the lowest level at 1.55419 and the highest level at 1.55861, the pair trading now around the level of 1.55510.

Finally the pair U.S. dollar traded during the Asia session between the lowest levels 85.660 a highest level 8.771, the pair trading now around the level of 85.390.

Market Expectations

EUR/USD : We expect today a decline for the pair Euro against the U.S. dollar to the level 1.29150, determined indicators show negative sign through Daily time frame support our expectations, these expectations require stability of the trading below the level of 1.31540.



GBP/USD : For the pair Sterling against the U.S. dollar we advice to monitor the price before the U.S. session, if the pair can close four hours candlestick above the level 1.55000 we can say the pair will rise up to the level 1.56250, but if the pair can close below it that mean the pair will go to the level 1.54000 and maybe more than this level.



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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