JDFN Financial Network

Technical Analysis 23/04/2010 of FXCBS

Friday April 23 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded in the Asian session in a
narrow range diagonally downwards, the highest price was at the level
of 1.32955 and the lowest price was at the level of 1.32017, the pair
trading now around the level of 1.32282.

Regarding the pound dollar pair, it inclined recording a high of
1.53975 and a low of 1.53151, having the royal currency trading around
1.53210.

Finally the pair U.S. dollar against the Japanese Yen traded in a
narrow range between the highest level at the price of 93.632 and the
lowest level at the price of 93.310 , the pair trading now around the
level of 93.407.

Market Expectations

EUR/USD :etermined Indicators for the
pair euro against the U.S. dollar is approaching to saturation levels
in sales, so we expect a rise today for the pair to the first target
level at 1.33200 then to the level of 1.33780, stability of trading
above the level of 1.31700 necessary to achieve those expectations.




GBP/USD :The resistance level at 1.54850
is still standing strong barrier Preventing the pair to continues its
bullish trend, this level has forced the pair to return within the
downward path again, which leads us to expect a drop to the level of
1.52250, stability of trading below the level of 1.54850 necessary to
achieve those expectations.




USD/JPY
:We expect today for the
pair U.S. dollar against the Japanese Yen a bullish direction over an
intraday basis and require stability above the neckline in addition to
stability 92.750. The awaited targets start at 94.050 then 94.650.




Senior Analyst / Ali Hasan /FXCBS

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