Technical Analysis 31/08/2010 FXCBS

[fxcbsar]

Tuesday August 31 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the day between the highest level at 1.26717 and the lowest level at 1.26325, the pair trading now around the level of 1.26400.

Regarding to the pair Sterling against the U.S. dollar traded during the day between the highest level at 1.54741 and the lowest level at 1.54179, the pair trading now around the level of 1.54295.

Finally the pair U.S. dollar against the Japanese Yen traded during the day between the lowest level at 84.073 and the highest level at 84.662 , the pair trading now around the level of 84.126.

Market Expectations

EUR/USD : etermined indicators show positive sign for the pair Euro against the U.S. dollar which may lead the pair to raise up to retest the level of 1.27200 again before the pair can reach our weekly target at 1.25250 then to the level of 1.24800; these expectations require stability of the trading below the level 127200.



GBP/USD : Stability of the trading for the pair Sterling against the U.S. dollar below the level of 50 Moving average lead us to expect more decline for the pair today to the level of 1.53850 then to the level of 1.53180.



USD/JPY : We expect today a more decline for the pair U.S. dollar against the Japanese Yen, stability of the trading below the level of 50 Moving Average support our expectations to decline to the level 83.100.




[B][B][B][B]Senior Analyst / Ali Hasan /[URL="http://www.fxcbs.com/"]FXCBS[/URL]

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