Technical Analysis 5/10/2010 FXCBS

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Tuesday October 5 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.36371 and the highest level at 1.37210, the pair trading now around the level of 1.37076.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.57499 and the highest level at 1.58435, the pair trading now around the level of 1.58017.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 83.324 and the highest level at 83.984 , the pair trading now around the level of 83.731.

Market Expectations

EUR/USD : etermined indicators for the pair Euro against the U.S. dollar showing saturation in the selling process which will cause a rise up for the pair to the first target at 1.37610 then 1.38500, these expectations require stability of the trading above the level of 1.36180.



GBP/USD : We expect today a decline for the pair Sterling against the U.S. dollar to the level of 1.57000 then return to rise up to the new target at 1.58610 then 1.59000 , these expectations require stability of the trading above the level of 1.57000.



USD/JPY : We expect a bullish intraday trend, supported by a bullish crossover appearing on Stochastic. The expected targets start at 84.000 then 84.850, which require the daily closing above 83.230 to prevail.



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