Monday January 11 , 2010

Previous session overview

The euro dollar pair inclined in today's Asian session to record a high of 1.45329 and a low of 1.44082, having the euro trading around 1.45159 levels.


As for the pound dollar pair, it gained in today's Asian session to record a high of 1.61368 and a low of 1.60437, having the pair trading around 1.61350.


Finally, the dollar yen pair is consolidating between 92.619 and 92.179 recording a low of 92.179 and a high of 92.619 having the pair trading around 92.289.


Market Expectations

EUR/USD :
EUR rose against the U.S. dollar at the beginning of trading today to achieve a high of 1.45320 after it was able to acheive the support level 1.42650 and breakthrough resistance level at 1.44650. Indicators show saturation determination in the procurement process which may lead to land the pair a little to the resistance level which was broken before continuing the process of climbing to 1.46450.



GBP/USD :
Sterling rose against the U.S. dollar at the beginning of trading today to achieve a high of 1.61070 and we wait for a breakthrough the resistance level at 1.61100 and we expect an upward trend in real targets for a couple to the level 1.62450, but before that the pair will make vibrating movement at that level before it can rise.



USD/JPY :
We expect today down trend to the level 90.550 and then after achieve that level and breakthrough it the target will be at 90.000, and we must note that closing below 93.700 is important to keep its trend.



Senior Analyst / Ali Hasan / FXCBS

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