Wednesday April 14 , 2010

Previous session overview

The pair euro against U.S. dollar traded in a narrow range diagonally upward during the Asian session, the highest price was at 1.36653 and the lowest price was at 1.36021, the pair trading now around the level of 1.36511.

The pair sterling against the U.S. dollar traded in a narrow range diagonal upward during the Asian session, the highest price was at 1.54381 and the lowest price was at 1.53698 the pair trading now around the level of 1.54226.

Finally the pair U.S. dollar against the Japanese Yen traded in a narrow range during the Asian session between the highest price at 93.371 and the lowest price at 93.16 , the pair trading now around the level of 93.351.

Market Expectations

EUR/USD : We expect an upside move today targeting 1.3787 and requires stability of trading above the level of 1.35250, A slightly downside correction might be seen due to negative momentum present over four-hour basis.




GBP/USD :Sterling against the dollar continues to fluctuate around the focal support areas of 1.53850 we expect further upside movement over intraday basis targeting 1.54990 and 1.55650, these expectation require stability of trading above the level of 1.52950.




USD/JPY :We expect a bullish intraday direction; first of its targets are around 94.00. Momentum indicators are approaching oversold areas and thus; supporting this expected bullish rebound.



Senior Analyst / Ali Hasan /FXCBS

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