Tuesday April 27 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded in a narrow range during
the Asian session, between the highest level at 1.34160 and the lowest
level at 1.33642, the pair trading now around the level of 1.33780.

The pair Sterling against the U.S. dollar also traded in a narrow range
during the Asian session between the highest level at 1.54840 and the
lowest level at 1.54840, the pair trading now around the level of
1.54516.

Finally the pair U.S. dollar against Japanese Yen traded in a narrow
range during the Asian session between the lowest level at 93.745 and
the highest level at 94.027 , the pair trading now around 93.996.

Market Expectations

EUR/USD :We expect some volatility for
the pair EURO against the U.S. dollar around the level of 1.33650 to
get rid of the negative determined which is show through determined
indicators, and then complete the process of the rise of the pair to
the target of 1.34850, these expectations requires a stability of
trading above the support level at 1.32900.


GBP/USD : etermined indicators
approaching now from saturation in selling and stability of trading
above the support level at 1.54120 , lead us to expect an upward trend
during trading today start with breakthrough of the resistance level at
1.54850 then to the level of 1.55450 , stability of trading above the
level of 1.53900 necessary to achieve this expectations .



USD/JPY : The stochastic is showing
positive signs, the pair has been bearishly correcting since yesterday
to retest the support level at 93.650, and we expect bullish direction
over an intraday to the target 94.540.





 Senior Analyst / Ali Hasan /FXCBS

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