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Technical Analysis 8/11/2010 FXCBS

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Technical Analysis 8/11/2010 FXCBS

Postby fxcbsar » Mon Nov 08, 2010 11:22 am

Monday November 8 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.39189 and the highest level at 1.40850, the pair trading now around the level of 1.39570.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.61035 and the highest level at 1.62130, the pair trading now around the level of 1.61351.

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 81.437 , the pair trading now around the level of 81.281.

Market Expectations

EUR/USD : The pair Euro against the U.S. dollar fall down with the beginning of the trading this week to the level 1.39189 , determined indicators show saturation in the selling process which could cause a up movement to retest the level of 1.40850 , these expectations require stability of the trading above the level of 1.39100.

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

GBP/USD : The pair Sterling against the U.S. dollar couldn't breakthrough the level 76.4% Fibonacci which cause a decline for the pair to the level of 1.61035, determined indicators show positive sign which may cause up movement to the level of 1.62000 , these expectations require stability of the trading above the level of 1.60900.

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

USD/JPY : We expect for the pair U.S. dollar against the Japanese Yen that the direction is a bearish one over an intraday basis, where targets start at 79.850 that essentially need to build a base below 81.450 to prevail.

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