Technical Analysis 22/01/10 of FXCBS
This is Technical analysis daily and provided by specialists and analysts from FXCBS
Friday Jan 22, 2010
Previous session overview
The euro dollar pair inclined slightly recording a high of 1.41574 and
a low of 1.40663, having the union currency trading around 1.41442.
The pound dollar pair, it is consolidating between 1.62800 and 1.61660
recording a low of 1.61667 and a high of 1.62844, while the pair is
currently trading around 1.62762.
Finally, the dollar weakened against the Japanese yen recording a low
of 89.781and a high of 90.540, and it is currently trading around
90.343.
Market Expectations
EUR/USD :
The support level 1.40600 for the Euro against U.S dollar seamed a very
strong stand, which lead the pair to increase in corrective movement,
the positive signals which was shown through Stochastic helped the pair
to raise, we expect today that this corrective will continuo to the
level 1.42000, but we must note that if the pair penetration the
mentioned support level our expectation will be deleted.
GBP/USD :
The pair sterling against the U.S. dollar rose to 1.62701 to gain
enough determination to support the continuation of the landing, we
expect today's downside trend for a couple to targeted levels of
1.60450, and this expectation needs to close four hours candle below
1.62850.
USD/JPY :
The dollar against yen built a base on 91.900 to start the awaited
bearish wave yesterday, meanwhile, momentum indicators are showing
oversold signs that are forcing the pair to fluctuate before resuming
the expected bearish direction over an intraday basis. The primary
target is around 87.750, keeping in mind that trades must remain intact
below 90.921 to maintain chances of achieving the expected descend.
Senior Analyst / Ali Hasan /FXCBS
Forex ECN Broker|Currency Online Trading| Low Spread| Free Trading Software
Friday Jan 22, 2010
Previous session overview
The euro dollar pair inclined slightly recording a high of 1.41574 and
a low of 1.40663, having the union currency trading around 1.41442.
The pound dollar pair, it is consolidating between 1.62800 and 1.61660
recording a low of 1.61667 and a high of 1.62844, while the pair is
currently trading around 1.62762.
Finally, the dollar weakened against the Japanese yen recording a low
of 89.781and a high of 90.540, and it is currently trading around
90.343.
Market Expectations
EUR/USD :
The support level 1.40600 for the Euro against U.S dollar seamed a very
strong stand, which lead the pair to increase in corrective movement,
the positive signals which was shown through Stochastic helped the pair
to raise, we expect today that this corrective will continuo to the
level 1.42000, but we must note that if the pair penetration the
mentioned support level our expectation will be deleted.
GBP/USD :
The pair sterling against the U.S. dollar rose to 1.62701 to gain
enough determination to support the continuation of the landing, we
expect today's downside trend for a couple to targeted levels of
1.60450, and this expectation needs to close four hours candle below
1.62850.
USD/JPY :
The dollar against yen built a base on 91.900 to start the awaited
bearish wave yesterday, meanwhile, momentum indicators are showing
oversold signs that are forcing the pair to fluctuate before resuming
the expected bearish direction over an intraday basis. The primary
target is around 87.750, keeping in mind that trades must remain intact
below 90.921 to maintain chances of achieving the expected descend.
Senior Analyst / Ali Hasan /FXCBS
Forex ECN Broker|Currency Online Trading| Low Spread| Free Trading Software
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