Technical Analysis 24/03/2010 of FXCBS
Wednesday March 24 , 2010
Previous session overview
The euro dollar pair dropped recording a low of 1.34061 and a high of 1.35062, having the union currency trading around 1.34161.
Regarding the pound dollar pair, the pair recorded a low of 1.49568 and
a high of 1.50455 the pair is currently trading at 1.49688.
Finally, the dollar gained against the Japanese yen recording a high of
90.653 and a low of 90.347, and the pair is currently trading around
90.600.
Market Expectations
EUR/USD :The pair euro against the U.S.
dollar declined as we expected yesterday to close at the support level
1.33990 at the beginning of trading for this day, we expect today a
further drop for the pair aimed initially at 1.33250, with the
possibility of some minor corrections during the trade.
GBP/USD : Negative signals emerge from
the Stochastic indicator for the pair sterling against the U.S. dollar
parallel to the emerge of technical bearish features to the pair, as we
mentioned in our report yesterday, we still waiting for the entry in
the fifth wave downward according to the (Elliot Waves), We are waiting
now a breakthrough for the level of support at 1.49560.
USD/JPY :The sideway trading continues,
between 91.000 and 89.750 our expectations for today remain neutral
until a breach of mentioned resistance and support occurs to insure the
intraday direction, although we are leaning towards expectations of a
bearish short tern direction.
Senior Analyst / Ali Hasan /FXCBS
Newsletter
Forex ECN Broker , Currency Online Trading , Low Spread , Free Trading Software
Previous session overview
The euro dollar pair dropped recording a low of 1.34061 and a high of 1.35062, having the union currency trading around 1.34161.
Regarding the pound dollar pair, the pair recorded a low of 1.49568 and
a high of 1.50455 the pair is currently trading at 1.49688.
Finally, the dollar gained against the Japanese yen recording a high of
90.653 and a low of 90.347, and the pair is currently trading around
90.600.
Market Expectations
EUR/USD :The pair euro against the U.S.
dollar declined as we expected yesterday to close at the support level
1.33990 at the beginning of trading for this day, we expect today a
further drop for the pair aimed initially at 1.33250, with the
possibility of some minor corrections during the trade.
GBP/USD : Negative signals emerge from
the Stochastic indicator for the pair sterling against the U.S. dollar
parallel to the emerge of technical bearish features to the pair, as we
mentioned in our report yesterday, we still waiting for the entry in
the fifth wave downward according to the (Elliot Waves), We are waiting
now a breakthrough for the level of support at 1.49560.
USD/JPY :The sideway trading continues,
between 91.000 and 89.750 our expectations for today remain neutral
until a breach of mentioned resistance and support occurs to insure the
intraday direction, although we are leaning towards expectations of a
bearish short tern direction.
Senior Analyst / Ali Hasan /FXCBS
Newsletter
Forex ECN Broker , Currency Online Trading , Low Spread , Free Trading Software
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