Technical Analysis 11/12/09 Of Fxcbs

[fxcbs]

This is technical daily and provided by specialists and analysts from the company FXCBS

Previous session overview

The Euro against the U.S dollar traded in a narrow range between the highest price at 1.47407 and the lowest price at 1.47089 during the Asian session, the pair is trading now at the level 1.47301.

Sterling rose against the U.S dollar during the Asian session to achieve the highest price at 1.63329, the pair is trading now between the levels of 1.63220 and the level 1.62600.

Finally the dollar against the yen also rose significantly during the Asian session to achieve the highest price at 88.953, the pair is now trading at the level 88.789.

Market Expectations

EUR/USD :

We expect today that the Euro against the U.S dollar will rise to the level 1.48100 , this expectations requires the stability of the trading above the level 1.47000 and close four hours candle above that level , trading range for today is among the support key 1.45600 and the resistance level at 1.49040.

GBP/USD :

We expect today that the pair sterling against the U.S. dollar will rise to achieve the target of 1.64650 with possibility to reach the level of 1.66100, This is after limited trading during yesterday's session to draw a triangular movement. With the observation that the general tendency downward unless we close the day above 1.66100.

USD/JPY :

Stochastic indicator appears saturated in the procurement process for the pair U.S. dollar against the yen which may lead a pair to corrective movement to get rid of this determination , but the general trend for the pair is rising towards to the 90.25 and 91.25.

Senior Analyst / Ali Hasan / FXCBS