Technical Analysis 7/10/2010 FXCBS

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Thursday October 7 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.38981 and the highest level at 1.39862, the pair trading now around the level of 1.39685.

The pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.58457 and the highest level at 1.59246, the pair trading now around the level of 1.58942.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the highest level at 83.031 and the lowest level at 82.423 , the pair trading now around the level of 82.440.

Market Expectations

EUR/USD : etermined indicators for the pair Euro against the U.S. dollar showing saturation in the purchasing process for the most time frame which will cause a down side for the pair to the first level at 1.38900 then 1.37600, these expectations require stability of the trading below the level of 1.40000.




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 1.59560 , 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 8345.000 then 84.050, which require the daily closing above 82.230 to prevail.





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