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Technical analysis 24/12/09 of FXCBS
This is technical daily and provided by specialists and analysts from FXCBS
Previous session overview
Euro against the U.S. dollar was traded in a narrow range during the Asian session recording a high of 1.43712 and a low of 1.43232, now the pair is trading around 1.43519 levels.
The Pound against the U.S dollar was also trading in a narrow range during the Asian session; the highest was at 1.60125 and the lowest at 1.59428, now the pair is trading around 1.59931 levels.
The dollar against yen was also traded in a narrow range at the Asian session, and achieved the highest level of 91.739 and the lowest price at 91.130, now the pair is trading around 91.242 levels.
Market Expectations
EUR/USD :
the Euro against the U.S. dollar still traded within a narrow range since the beginning of the trading session for this day around the resistance level at 1.43650 and strives to break through this level, if the pair can break through this level that may lead the price to the level 1.44750, but we still keep our expectations that all the rise for the pair is just a correction movement.
GBP/USD :
Sterling against the U.S. dollar based on the support level, we expect today that the pair will make a correction up to the level 1.60850 before continuing its landing, the general trend still down side until this moment.
USD/JPY :
The U.S. dollar against the Japanese yen continues to be attempts to complete the correction which is expected to the level 90.700 but the price hits the support level at 91.300, Now we expect that the pair will break through that level to complete the correction, before he can go up to the new goals at the level 92.500
USD/CAD :
Positive signs that appear through momentum indicators make us expect some upside movement that will retest breach support at 1.05450 and then resume the bearish trend towards the mentioned main targets. Thus, we expect a bearish direction for today to remain intact if we do not witness trades stabilizing above 1.05700.
Senior Analyst / Ali Hasan / FXCBS
Technical analysis 28/12/09 of FXCBS
This is technical daily and provided by specialists and analysts from FXCBS
Previous session overview
In general, as a result of the Christmas Holiday and thin liquidity the pairs were trading in a narrow range during the Asian session.
The Euro against the US dollar within the Asian session has touched a high price of 1.43965 and low price at 1.43522.
The Sterling against the US dollar during the Asian market touched high price of 1.59944 and a low of 1.95315.
The US dollar against the JPY within the Asian session has touched a high at 91.770 and low at 91.406.
Market Expectations
EUR/USD :
The Volume is poor on the pair EUR/USD due to the Christmas holiday. And the market has opened on an upward direction, so we expect the pair to go down again to the levels of 1.4265 and then 1.4200 if the pair breaks the 1.4350 support level.
GBP/USD :
The sterling against the U.S. dollar approached to a strong support level of 1.5925, but it rebounded rapidly. We expect the pair to go back again to test this point and we expect the pair to fall this time to 1.5845.
USD/JPY :
The Yen against the U.S. dollar is trading for several days within a narrow range between the support level of 91.32 and resistance level of 91.77, the expectations for the pair is to keep moving between these two prices with the possibility for the pair to decline to 90.70 in the process of completing the correction movement.
Senior Analyst / Ali Hasan / FXCBS
28/12/2009 A weekly survey of EUR / USD, GBP / USD, USD / JPY
EUR / USD, D1
Last week the rate for the currency pair struck downtrend resistance line Canal, which was formed on December 4 after the breakdown of a rising trend line support. Pressure on the dollar provided data to the United States, indicating a significant reduction in sales of new homes in the country. Next week is expected some increase, followed by reduction to a minimum. Indicators oversold.
GBP / USD, D1
Last week on the currency pair was observed continued depreciation of the formed downlink. There is a signal to the depreciation on the current channel. Indicators confirm the continuation of the depreciation. At the same time can occur through the breakdown of resistance due to the strong euro against the dollar.
USD / JPY, D1
Last week the price rose, approaching the maximum of 26 October. From this level, probably has already begun a correction. The consequences can be a breakdown of the rising channel support line, after which the signal appears to reduce the rate. But while the support line is not breached, remains relevant signal to improve the course.
Technical analysis 29/12/09 of FXCBS
This is technical daily and provided by specialists and analysts from FXCBS
The Euro against the US dollar traded in a narrow range durring the Asian session , the highest price at1.44280 and low price at 1.43539.
The Sterling against the US dollar raise during the Asian session to achieved the highest price at 1.60675and a low at 1.59953.
The US dollar against the JPY also traded in a narrow rang durring the Asian session has touched a high at 91.778 and low at 91.525.
Market Expectations
EUR/USD :
EUR against the U.S. dollar still trading in a narrow rang between the support level at 1.4350 and the resistance level 1.44230 , we expect to continues this vibrating movement for few days before we can judge the direction for the pair.GBP/USD :
Sterling against the U.S. dollar has made some slight rise and tries to approach the resistance level at 1.60850; the momentum is still weak, thereby keeping the pair traded fairly quiet for several days we must wait for few days before we can see the direction.
USD/JPY :
We still see that the expected direction for today is bullish; targeting main resistance levels at 92.50 as a primary target for the present bullish short term wave, before possibly reversing. Keep in mind that the breach of 90.75 could cancel out the need to touch main resistance and directly start a bearish trend.USD/JPY broke resistance 91.8
The USD/JPY was able to break the important resistance of 91.8 and currently trading at 92.26
The importance of this level is from both the high and resistance of Dec. 22 and the support area of Jul 8-13 as you can see at the attached image.
This pair is going up within its sharp channel and its immediate target is Sep. 7 high of 93.28
The current support should be found at the 91.8 area.
Good Luck