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


Monday Jan 25, 2010

[COLOR=Red]Previous session overview
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The euro dollar inclined slightly recording a high of 1.41733 and a low of 1.41334, having the 16 nations' currency trading around 1.41371.

Regarding the pound dollar pair, it is consolidating between 1.61488 and 1.60881 recording a high of 1.61366 and a low of 1.60881, and the royal pound it currently trading around 1.61377.

Finally, the dollar yen pair is currently consolidating around 90.097 recording a high of 90.331 and a low of 89.8140.

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Market Expectations
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EUR/USD : [/COLOR]
Pair the euro against the U.S. dollar has fallen sharply over the last week, touching the levels of 1.40200; Stochastic appears saturated in sales, which may lead the pair to make a corrective movement to the level of 1.43000 before returning to continue its decline to the new goals at 1.38650.


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GBP/USD : [/COLOR]
Pair sterling against the U.S. dollar has also dropped sharply during trading last week, achieving the lowest levels at 1.60770, we expect this decline will continuo this day toward the goal at 1.59250, and this expectation requires constant trading below 1.62400.



[COLOR=SeaGreen]USD/JPY : [/COLOR]
The dollar against the yen is still trading in a bearish channel, and we expect the downward will continue this day for a couple to the target levels of 88,350 initially and then 87,000, these expectations require stability of the daily closing below 92,000.



Senior Analyst / Ali Hasan /FXCBS

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