Technical Analysis 13/10/2010 FXCBS

[fxcbsar]

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.



[b] GBP/USD : The pair Sterling against the U.S. dollar couldn