Technical Analysis 16/03/2010 of FXCBS
Tuesday March 16 , 2010
Previous session overview
The euro dollar pair is consolidating between the 1.37000 levels and
1.36500 levels recording a high of 1.37009 and a low of 1.36563, having
the union currency trading around 1.36642.
Regarding the pound dollar pair, it is trading between a high of 1.50709
and a low of 1.49774, having the royal currency trading around 1.49870.
Finally, the dollar extended its drop against the Japanese yen recording
a low of 89.985 and a high of 90.489, while the pair is currently
trading around 90.261.
Market Expectations
EUR/USD :We expect today for the euro dollar pair a downward
trend starting after the penetration of support level at 1.36020 and
then to the target of 1.35210.
GBP/USD : We expect today for the sterling dollar pair to move further down to the support
level at 1.49650 and if it breakthrough this level the pair will decline
to the level of 1.48990, and we should take into consideration today’s
economic data release.
USD/JPY :If the pair was is not able to build a base above Moving Average 50 We think that
the overall direction for trading today is bearish, where it will be
insured with the breach of 89.750 and stabilize below it.
Senior Analyst / Ali Hasan /FXCBS
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Previous session overview
The euro dollar pair is consolidating between the 1.37000 levels and
1.36500 levels recording a high of 1.37009 and a low of 1.36563, having
the union currency trading around 1.36642.
Regarding the pound dollar pair, it is trading between a high of 1.50709
and a low of 1.49774, having the royal currency trading around 1.49870.
Finally, the dollar extended its drop against the Japanese yen recording
a low of 89.985 and a high of 90.489, while the pair is currently
trading around 90.261.
Market Expectations
EUR/USD :We expect today for the euro dollar pair a downward
trend starting after the penetration of support level at 1.36020 and
then to the target of 1.35210.
GBP/USD : We expect today for the sterling dollar pair to move further down to the support
level at 1.49650 and if it breakthrough this level the pair will decline
to the level of 1.48990, and we should take into consideration today’s
economic data release.
USD/JPY :If the pair was is not able to build a base above Moving Average 50 We think that
the overall direction for trading today is bearish, where it will be
insured with the breach of 89.750 and stabilize below it.
Senior Analyst / Ali Hasan /FXCBS
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