Major Currencies Analysis 16/12/2010 FXCBS

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Thursday December 16 , 2010

Major Currencies Analysis

EUR/USD

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Determined indicators for the pair Euro against the U.S. dollar show saturation in the selling process which may cause a rising for the pair to the level of 1.33250 first then 1.33900, these expectations require stability of the trading above the level of 1.317500.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.34560 1.35250 1.35900 1.33180 1.32800 1.32400 1.31900

GBP/USD

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Determined indicators for the pair Sterling against the U.S. dollar showing saturation in the selling process which may cause a rising to get red form negative determination before bake to attack the support level at 1.55200, if the pair can penetrate this level the pair will decline more to the level 1.53850.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.58292 1.58600 1.59128 1.58024 1.57662 1.57346 1.56822

USD/JPY

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The pair U.S. dollar against Japanese Yen still traded around the main resistance level at 84.250 , Stochastic indicators showing positive sign which may help the pair to breakthrough this level and achieving the target of 84.850.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/JPY 84.060 84.223 84.480 83.790 83.750 83.600 83.340

USD/CHF

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Determined indicators for the pair U.S. dollar against the Swiss Franc showing mixed sign, the pair trading now around the main and critical support at 0.96500 if the pair can breakthrough this level it will decline more to the level of 0.96130 then to the level 0.95600, but if the pair close daily candlestick above it, it will return to rise again to retest the level of 0.98800, so we advice to monitor the pair very well during the trade today.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.98190 0.98310 0.98520 0.98149 0.97931 0.97805 0.97592

AUD/USD

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We expect that the pair Australian dollar against the U.S. dollar will rise up to retest the level of 0.99520 before it can decline again, determined indicators supporting our expectation.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
AUD/USD 0.98660 0.98958 0.99452 0.98319 0.98064 0.97766 0.97272

USD/CAD

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Stochastic indicators for the pair U.S. dollar against Canadian dollar still showing positive sign that will cause more fluctuate around the level of 1.00250, but we still expect that the pair will decline to achieve the target of 0.99250.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 1.00990 1.01078 1.01222 1.00960 1.00813 1.00724 1.00580

Major Currencies Analysis
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