Technical Analysis 20/04/2010 of FXCBS
Tuesday April 20 , 2010
Previous session overview
The euro dollar pair traded in a narrow range consolidating between a
low of 1.34580 and a high of 1.35012, while it is currently trading
around the level of 1.34612.
The pound dollar pair traded in a narrow range recording a low of
1.52896 and a high of 1.53428, while it is currently trading around the
level of 1.52934.
Finally, the U.S. dollar against the Japanese Yen is fluctuating
between a high of 92.702 and a low of 92.382 while it is currently
trading around 92.604.
Market Expectations
EUR/USD :Today, we expect to the pair
euro against the U.S. dollar to move downwards towards the target of
1.34080 then 1.33350, Stochastic indicator supports these expectations,
stability of trading below the level of 1.35250 is necessary to achieve
these expectations.
GBP/USD :The pair sterling against the
U.S. dollar fluctuated around the support level at 1.53250 with the
emergence of negative signals through Stochastic indicator , which
makes us expect the downward trend for the pair to the target 1.52450
and then to the level of 1.51700.
USD/JPY :We expect a bearish
intraday trend today; targets initially 91.650 and require the
four-hour candlestick closing to remain below 93.000. Determined
Indicators support this expectation in addition to the stability of
trading below the moving average 50.
Senior Analyst / Ali Hasan /FXCBS
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Forex ECN Broker , Currency Online Trading , Low Spread , Free Trading Software
Previous session overview
The euro dollar pair traded in a narrow range consolidating between a
low of 1.34580 and a high of 1.35012, while it is currently trading
around the level of 1.34612.
The pound dollar pair traded in a narrow range recording a low of
1.52896 and a high of 1.53428, while it is currently trading around the
level of 1.52934.
Finally, the U.S. dollar against the Japanese Yen is fluctuating
between a high of 92.702 and a low of 92.382 while it is currently
trading around 92.604.
Market Expectations
EUR/USD :Today, we expect to the pair
euro against the U.S. dollar to move downwards towards the target of
1.34080 then 1.33350, Stochastic indicator supports these expectations,
stability of trading below the level of 1.35250 is necessary to achieve
these expectations.
GBP/USD :The pair sterling against the
U.S. dollar fluctuated around the support level at 1.53250 with the
emergence of negative signals through Stochastic indicator , which
makes us expect the downward trend for the pair to the target 1.52450
and then to the level of 1.51700.
USD/JPY :We expect a bearish
intraday trend today; targets initially 91.650 and require the
four-hour candlestick closing to remain below 93.000. Determined
Indicators support this expectation in addition to the stability of
trading below the moving average 50.
Senior Analyst / Ali Hasan /FXCBS
Newsletter
Forex ECN Broker , Currency Online Trading , Low Spread , Free Trading Software
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