Technical Analysis 5/05/2010 of FXCBS
Wednesday May 5 , 2010
Previous session overview
The euro dollar pair declined in today's Asian session to record a low
of 1.29362 and a high of 1.29919, having the union currency trading
around 1.29662.
Regarding the pound dollar pair, it fell slightly recording a low of
1.51067 and a high of 1.51542, having the royal currency trading around
1.51380.
Finally, the dollar yen pair is trading between a high of 94.908 and a
low of 94.532, while the pair is currently trading around 94.792.
Market Expectations
EUR/USD :The pair Euro against U.S.
dollar fell down and approached the levels of 1.29000, determined
indicators may lead the pair to make a simple corrective movement
breakthrough the resistance point at 1.30950 will cancel the down
movement and lead the pair to raise again
GBP/USD :Today, we expect a decline for
the pair sterling against the U.S. dollar to the support level at
1.50750 and then to the target of 1.50000, stability of trading below
the level of 1.51650 is necessary to achieve these expectations.
USD/JPY :Momentum indicators are causing
negative pressure on the pair as price is traded below the support
level of 94.800. Signs of a bearish pattern are shown above with
neckline at 94.450 we advice to monitor the price today before enter it.
Senior Analyst / Ali Hasan /FXCBS
Newsletter
Forex ECN Broker , Currency Online Trading , Low Spread , Free Trading Software
Previous session overview
The euro dollar pair declined in today's Asian session to record a low
of 1.29362 and a high of 1.29919, having the union currency trading
around 1.29662.
Regarding the pound dollar pair, it fell slightly recording a low of
1.51067 and a high of 1.51542, having the royal currency trading around
1.51380.
Finally, the dollar yen pair is trading between a high of 94.908 and a
low of 94.532, while the pair is currently trading around 94.792.
Market Expectations
EUR/USD :The pair Euro against U.S.
dollar fell down and approached the levels of 1.29000, determined
indicators may lead the pair to make a simple corrective movement
breakthrough the resistance point at 1.30950 will cancel the down
movement and lead the pair to raise again
GBP/USD :Today, we expect a decline for
the pair sterling against the U.S. dollar to the support level at
1.50750 and then to the target of 1.50000, stability of trading below
the level of 1.51650 is necessary to achieve these expectations.
USD/JPY :Momentum indicators are causing
negative pressure on the pair as price is traded below the support
level of 94.800. Signs of a bearish pattern are shown above with
neckline at 94.450 we advice to monitor the price today before enter it.
Senior Analyst / Ali Hasan /FXCBS
Newsletter
Forex ECN Broker , Currency Online Trading , Low Spread , Free Trading Software
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