This is Technical analysis daily provided by specialists and analysts from FXCBS

Tuesday February 16 , 2010

Previous session overview

The euro dollar pair inclined to record a high of 1.36822 and a low of 1.35878, having the union currency trading around 1.36709.

Regarding the pound dollar pair recorded a high of 1.57289 and a low of 1.56536, having the royal pound trading around 1.57169.

Finally, the dollar, declined against its Japanese counterpart recording a low of 89.706 and a high of 90.073, and the pair is currently trading around 89.906.

Market Expectations

EUR/USD :
We expect an upward trend today for a couple of the euro against the U.S. dollar ,and starts after breakthrough the level of 1.36920 the aim at the level of 1.38000, this expectation requires stability of trading above 1.35500.




GBP/USD :
The levels of 1.57650 is still a strong resistance to the rise for the pair sterling against the U.S. dollar, and we expect today that the pair once again trying to break this level and we expect that up to levels of 1.58650 and further, to 1.59000.



USD/JPY :
Today we expect a downward trend and the expected goals located at 88.890 followed by 88.230, with the need to close the four hours candle below a 90.450 to ensure these expectations.



Senior Analyst / Ali Hasan /FXCBS

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