Technical Analysis 29/10/2010 FXCBS

fxcbsar · #1 10-29-10, 10:56 AM

Friday October 29 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.38623 and the highest level at 1.39519, the pair trading now around the level of 1.38713.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.59088 and the highest level at 1.59665, the pair trading now around the level of 1.59113.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 80.535 and the highest level at 81.074 , the pair trading now around the level of 80.663.

Market Expectations

EUR/USD : Stability of the trading for the pair Euro against the U.S. dollar above the resistance level 1.38500 (MA 50) and the saturation in the selling process which is showing through determined indicators lead us to expect an up trend for the pair to the level of 1.40000 then to the level of 1.40850 today .

http://www.fxcbs.com/newsletter/images/EURUSD.gif

GBP/USD : The pair Sterling against the U.S. dollar success to breakthrough the level 1.58500 yesterday , but we can see satruation in the purchasing process which will cause a downside for the pair to the level of 1.57250 , these expectations require stability of the trading below the level of 1.59500.

http://www.fxcbs.com/newsletter/images/GBPUSD.gif

USD/JPY : We expect a bullish intraday trend, supported by a bullish crossover appearing on Stochastic. The expected targets start at 81.850 then 82.000, which require the daily closing above 81.000 to prevail.

http://www.fxcbs.com/newsletter/images/USDJPY.gif
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Technical Analysis 29/10/2010 FXCBS

Technical Analysis 29/10/2010 FXCBS

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