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Wednesday July 28 , 2010

Previous session overview

The pair Euro against the U.S. dollar traded during the Asian session between the lowest level at 1.29665 and the highest level at 1.30161, the pair trading now around the level of 1.30109.

Regarding to the pair Sterling against the U.S. dollar traded during the Asian session between the lowest level at 1.55623 and the highest level 1.56171, the pair trading now around the level of 1.56149.

Finally the pair U.S. dollar against the Japanese Yen traded during the Asian session between the lowest level at 87.653 and the highest level at 87.918 , the pair trading now around the level of 87.841.

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Market Expectations

EUR/USD :We expect today that the pair Euro against the U.S. dollar will test the resistance level at 1.30650 then decline to the level 1.29110, determined indicators for the daily and for the four hours candlestick support our expectations.

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GBP/USD :Determined indicators for the pair Sterling against the U.S. dollar show negative signs which may lead the pair to decline to get rid of the negative signs before heading back to a bullish trend.

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USD/JPY :The pair strongly pushed to the upside due to the positive signs appearing on Stochastic that is currently nearing overbought areas, our expectations will remain intact as long as the four-hour closing remains below 87.660.

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Support and Resistance

Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.27980 1.28510 1.29330 1.27980 1.27010. 1.26510 1.25690
GBP/USD 1.52190 1.52770 1.53740 1.52060 1.51010 1.50430 1.49460
USD/JPY 87.200 87.380 87.680 87.120 86.840 86.660 86.360
USD/CAD - - - - - - -

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Most Important Events

Date Time Currency Event Forecast Previous
28/07/2010 11:45am GBP BOE Gov King Speaks
28/07/2010 3:30pm USD Core Durable Goods Orders m/m 0.6% 1.6%
28/07/2010 3:30pm USD Durable Goods Orders m/m 0.9% -0.6%
28/07/2010 9:00pm USD Beige Book
USD

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Fienex Group © 2010.

DISCLAIMER: This overview can be used only for informational purposes. FXCBS is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

RISK WARNING: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your monetary objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your deposited funds and therefore you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent advisor if you have any doubts. Past returns are not indicative of future results.