Technical Analysis 8/02/10 of FXCBS

fxcbsar · #1 (**permalink**) 08-02-2010, 05:53 PM

This is Technical analysis daily provided by specialists and analysts from FXCBS

Monday February 8 , 2010

Previous session overview

The euro dollar pair fell slightly recording a low of 1.36209 and a high of 1.36783, having the union currency trading around 1.36750.

Regarding the pound dollar pair, it declined in today's Asian session to record a low of 1.55349 that lowest since May 21and the highest was at the level 1.56214. The pair is currently trading around 1.55858.

Finally, the dollar yen pair is consolidating between a low of 89.141 and a high of 89.492, while the pair is trading around 89.422.

Market Expectations

EUR/USD :
The pair Euro against U.S. dollar succeeded to achieved the objectives of the landing during the trade last week, determined indicators show a high saturation in the sales, which may lead the pair to make a corrective movement to the level 1.38550 and we should note that this new movement just corrective .

GBP/USD :
The pair Sterling against the U.S. dollar fell sharply during the trade last week but it was collides with a key support at 1.55300, we can show a signs of positive reaction by stochastic which may lead to a corrective movement to the level of 1.58550.

USD/JPY :
We expect to achieve more bearish short term direction in order for this pattern's targets, which are around 84.800, could prevail. It is vital that 90.300 remain intact to support the bearish direction whereas the bearish short term remains intact while trading below main resistance 92.500.

Senior Analyst / Ali Hasan /FXCBS
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Technical Analysis 8/02/10 of FXCBS