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This is Technical analysis daily and provided by specialists and analysts from FXCBS

Thursday January 14 , 2010

[COLOR=Red]Previous session overview[/COLOR]

The Euro dollar pair recorded a high of 1.45559 and a low of 1.44956, having the union currency trading around 1.45300.

The pound dollar pair recorded a low of 1.62629 and a high of 1.63091, having the royal currency trading around 1.62906. The pair is trading between the 1.62400 levels and 1.63550 levels.

Finally, the dollar yen pair inclined slightly to record a high of 91.927 and a low of 91.294, having the pair trading around 91.915.


[COLOR=Red]Market Expectations[/COLOR]

[COLOR=SeaGreen]EUR/USD : [/COLOR]
We think that the expected bullish intraday direction could prevail, while we wait achieving the expected targets starting from 1.45700 and then 1.46450. Keep in mind the importance of the level 1.44550 remains intact to maintain chances of achieving these expectations.



[COLOR=SeaGreen]GBP/USD : [/COLOR]
The pair succeeded in breaching the pivotal resistance at 1.62400 to start the expected intraday downside move therefore, our expectations are intact according to the morning scenario which remains intact as far as 1.60600 is not breached.



[COLOR=SeaGreen]
USD/JPY : [/COLOR]
The dollar agaist the yen surpassed in its bullish correction the pivotal resistance at 91.250 yesterday's breached support, we wait the bearish direction over intraday basis that essentially requires trades to remain below 92.100.


Senior Analyst / Ali Hasan /FXCBS

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