Technical Analysis 14/10/2010 FXCBS

[fxcbsar]

Thursday October 14 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.39543 and the highest level at 1.41021, the pair trading now around the level of 1.40877.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.58871 and the highest level at 1.60449, the pair trading now around the level of 1.60390.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 81.140 and the highest level at 81.841 , the pair trading now around the level of 81.153.

Market Expectations

EUR/USD : We expect a decline for the pair Euro against the U.S dollar today to the level of 1.40150 then to retest the main support level of 1.39250, determined indicators show strong saturation in the purchasing process which is showing through the four hours candlestick ,which is supports our expectations.

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

GBP/USD : The pair Sterling against the U.S. dollar break through the support level at 1.59650 during the Asia session , which may lead the pair to rise to the level of 1.60950 then to the level of 1.61500.

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 82.450 then 82.850, which require the daily closing above 81.000 to prevail.

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


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