Daily Fundamntal Report24.02.2009

After that we saw yesterday, the U.S. dollar's weakness against major currencies due to the pessimistic expectations that the economy works through the morning, the dollar managed to rise followed by each of the euro and the yen, according to the engine, which was directed technical currencies yesterday, and today we find a wave of trade return control of the new markets of major currencies to push towards the top at the expense of the Japanese yen
Rose pair euro / dollar today to complete his bottom, which had begun with the end of last week, and we find that the technical indicators at the moment and the day-to-day and still support the progressive movement in spite of EUR/USD approaching a steady pace towards the saturated procurement level daily. Today, the market very quiet with the absence of economic data for most of today's superpower economies, so we expect it to be a quiet trading day, and often the EUR/USD will be the formation of a side-trades during the period from transactions. The EUR/USD would be the goal of the first upward today in a state to continue towards the 1.3000 level at the top while in the case of the gradient will be the goal of the first pair at the 1.2690 level. The EUR/USD the highest so far at the level of 1.2947 and a minimum level at 1.2777.
Rose sterling / dollar today, which is also supported by a weak U.S. dollar and has driven investors to demand for other major currencies today, and had begun the day after a sterling progressive inability to penetrate the 1.4350 level to the bottom, which support a great deal of momentum to the upward rise to this as strong . Despite these strong upward movement that we expect will soon enter the pound within the trading side of the wave and from this perspective will be aimed upward at the next level would be 1.4670 while the objective in the case of the downward trend towards the bottom at the 1.4350 level, which was unable to breakthrough in the past.
Descended dollar / yen today, supported by a very weak dollar, which hit on Saturday, according to the analysis of the fundamental believe that while technical indicators are also supporting this movement down the yen, after the presence of saturated operations within the area of procurement at the day-to-day and moment. We expect that it would continue downward movement long as it is often able to penetrate the strong level of support at 92.70 and due to the absence of economic data today on the low levels of trading markets expect that the yen is also a side to the trades during the coming period, the downward tendency of some trades. Would be aimed downward in the case of being able to penetrate the 92.70 level, while at the level of 91.50 will not be able to increase the level of resistance at 94.20 92.74.
Disclaimer: All data provided in this document are obtained from resources that we believe are reliable. And they are provided to inform traders about markets and help them make better decisions. Therefore, FXCBS Fienex Group LLC does not hold any responsibility for mistakes that could occur in these data, or any financial impact of using these data in trading.
Copyright©Fienex Group LLC2009