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Technical Analysis 9/11/2010 FXCBS

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Technical Analysis 9/11/2010 FXCBS

Postby fxcbsar » Tue Nov 09, 2010 11:32 am

Tuesday November 9 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asia session between the lowest level at 1.38360 and the highest level at 1.39275, the pair trading now around the level of 1.38791.

Regarding to the pair Sterling against the U.S. dollar traded during the Asia session between the lowest level at 1.60659 and the highest level at 1.61517, the pair trading now around the level of 1.61111.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asia session between the lowest level at 80.730 and the highest level at 81.235 , the pair trading now around the level of 80.903.

Market Expectations

EUR/USD : The euro trades down around the level of 1.38360 as Euro Zone debt worries , determined indicators show saturation in the selling process which could cause a up movement to retest the level of 1.40250 , these expectations require stability of the trading above the level of 1.37700.



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 1.60659, 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 1.60500.



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.




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