Technical Analysis 29/09/2010 FXCBS

[fxcbsar]

Wednesday September 29 , 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 1.35613 and the highest level at 1.35956, the pair trading now around the level of 1.35823.

The pair Sterling against the U.S. Dollar traded during the Asia session in a narrow range between the lowest level at 1.57906 and the highest level at 1.58469, the pair trading now around the level 1.58443.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 83.581 and the highest level at 84.086, the pair trading now around the level of 83.601.

Market Expectations

EUR/USD : etermined indicators for the pair Euro against the U.S. dollar show saturation in the purchasing process which may lead the pair to retest the level of 1.35000 before back to rise again to the new target at 1.37000, stability of the trading above the level of 1.35000 necessary to achieve these expectations.




GBP/USD : We expect an up trend for the pair Sterling against the U.S. dollar to the level 1.59000; these expectations require stability of the trading above the level of 1.58000.



USD/JPY : The pair is witnessing more negative pressure as it touches 38.2% Fibonacci correction around 84.700 we can expect a bullish intraday direction that will start targets at 85.850 then 87.000, which require the daily closing above 84.00 to continue.




Newsletter

Forex ECN Broker | Currency Online Trading | Low Spread | Free Trading Software