Technical Analysis 1/10/2010 FXCBS

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Friday October 1 , 2010

Previous session overview

The pair Euro against U.S. dollar traded during the Asia session between the lowest level at 1.36188 and the highest level at 1.37400, the pair trading now around the level of 1.37360.

Regarding to the pair Sterling against the U.S. dollar traded during the trade today between the lowest level at 1.57029 and the highest level at 1.58604, the pair trading now around the level of 1.5536.

Finally the pair U.S. dollar against the Japanese Yen traded between the lowest level at 83.204 and the highest level at 83.576 , the pair trading now around the level of 83.238.

Market Expectations

EUR/USD : etermined indicators show saturation in the purchasing process for the pair Euro against the U.S. dollar which will lead the pair to make a correction to the level 1.35200; these expectations require stability of the trading below the level of 1.37570.



GBP/USD : We expect today a down trend for the pair Sterling against the U.S. dollar to the level of 1.56850 then to the level of 1.55620; these expectations require stability of the trading below the level of 1.59450.



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 84.850 then 86.000, which require the daily closing above 83.00 to continue.

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