Technical Analysis 8/10/2010 FXCBS

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Friday October 8 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.39026 and the highest level at 1.39621, the pair trading now around the level of 1.39242.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.58229 and the highest level at 1.58995, the pair trading now around the level of 1.58294.

Finally the pair of U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level 82.150 and the highest level at 82.511, the pair trading now around the level of 82.392.

Market Expectations

EUR/USD : We expect today a decline for the pair of Euro against the U.S. dollar to the level of 1.38250 then to the level 1.37450, determined indicators support our expectations, but these expectations require stability of the trading below the level 1.39800.



GBP/USD : We expect today a decline for the pair Sterling against the U.S. dollar to retest the level of 1.57000 then return to rise up to the target 1.59000 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 82.980 then 83.250, which require the daily closing above 82.000 to prevail.






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