Technical Analysis 4/10/2010 FXCBS

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Monday October 4 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the highest level at 1.38049 and the lowest level at 1.37358, the pair trading now around the level of 1.37381.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the highest level at 1.58256 and the lowest level at 1.57706, the pair trading now around the level of 1.57722.

Finally the pair U.S. dollar traded during the Asia session between the lowest level at 83.214 and the highest level at 83.866, the pair trading now around the level of 83.363.

Market Expectations

EUR/USD : The Determined indicators for the pair Euro against the U.S. dollar showing saturation in the purchasing process which may lead the pair to decline in a correction movement to the level 1.36770 and maybe to the level of 1.36180 , stability of the trading above the level of 1.36180 necessary for the pair to return to the uptrend movement .



GBP/USD : The pair Sterling against the U.S. dollar may decline to the level of 1.56640 then to the level of 1.55250; determined indicators for the pair support our expectations.



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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