Technical Analysis 13/10/2010 FXCBS

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Wednesday October 13 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the highest level at 1.39781 and the lowest level at 1.39119, the pair trading now around the level of 1.39677.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the highest level at 1.58683 and the lowest level at 1.57744, the pair trading now around the level of 1.58559.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 81.654 and the highest level at 82.003 , the pair trading now around the level of 81.901.

Market Expectations

EUR/USD : We expect a decline for the pair Euro against the U.S dollar today to the level of 1.38900 then to retest the main support level of 1.38400, determined indicators show strong saturation in the purchasing process which is showing through the four hours candlestick ,which is supports our expectations.

http://www.fxcbs.com/newsletter/images/EURUSD.gif

GBP/USD : The pair Sterling against the U.S. dollar couldn’t break through the support level at 1.59650 yesterday and it’s close daily price below it and , which may lead the pair to decline to the level of 1.58000 then to the level of 1.57000.

http://www.fxcbs.com/newsletter/images/GBPUSD.gif

USD/JPY : We expect a bullish intraday trend, supported by a bullish crossover appearing on Stochastic. The expected targets start at 82.450 then 82.850, which require the daily closing above 81.000 to prevail.


http://www.fxcbs.com/newsletter/images/USDJPY.gif


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