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

Monday February 22 , 2010

Previous session overview

The euro dollar pair is trading between the 1.36540 levels and the 1.36000 levels recording a high of 1.36534 and a low of 1.36007. The pair is trading around 1.36299.

Regarding the pound dollar pair, it is consolidating between a high of 1.54956 and a low of 1.54297, having the royal currency trading around 1.54688.

Finally, the dollar yen pair is trading between the high of 91.903 and the low of 91.498, having the pair trading around 91.598.

Market Expectations

EUR/USD :
We expect an upward trend for a couple of the euro against the U.S. dollar for the day, Stochastic appears saturated in sales and the closure last Friday above the level of 1.35000 supports the achievement of an upward trend aimed at 1.37250.



GBP/USD :
determined Indicators for a couple of sterling against the U.S. dollar appears saturated in sales, which make us expect an upward trend today amid at 1.5650, and requires constant trading above the level of 1.54500



USD/JPY :
We expect bearish short term for today, and the target is around 90.500 followed by the more vital 88.650, where the breach of it will pave the way for more bearish movement towards targets below 85.550.



Senior Analyst / Ali Hasan /FXCBS

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