Technical Analysis 30/06/2010 FXCBS

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Wednesday June 30 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded in a narrow range during the Asian session between the lowest level at 1.21663 and the highest level at 1.22232 , while the pair is currently trading around the level of 1.22207.

Regarding to the pair Sterling against the U.S. dollar traded in a narrow range also during the Asian session between the lowest level at 1.50277 and the highest level at 1.50737, the pair is currently trading around the level of 1.50433.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asian session in a narrow range between the lowest level at 88.392 and the highest level at 88.687, the pair is currently trading around the level of 88.552.

Market Expectations

EUR/USD : etermined indicators show negative signs for the pair Euro against the U.S. dollar, which may lead the pair today to decline to the target level at 1.20850 then to the level of 1.19890, stability of the trading below the level of 1.23100 necessary to achieve these expectations.



GBP/USD : We expect today a decline for the pair Sterling against the U.S. dollar starting with penetration for the support level at 1.50000, then to the target of 1.49561, stability of the trading below the level 1.51230 necessary to achieve these expectations.



USD/JPY : Stability of the trading for the pair U.S. dollar against the Japanese Yen below the level of 88.761 leads us to save our expectations for the declining to the pair to the level of 87.800, these expectations still as it if the pair still below the level of 88.761.



Senior Analyst / Ali Hasan /FXCBS

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