Major Currencies Analysis 17/12/2010 FXCBS

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Friday December 17 , 2010

Major Currencies Analysis

EUR/USD

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We expect today a decline for the pair Euro against the U.S. dollar, determined indicators showing saturation in the purchasing process which may cause that decline to retest the main support level at 1.31750; these expectations require stability of the trading below the level of 1.33850.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.32654 1.32887 1.33272 1.32296 1.32188 1.31955 1.31570

GBP/USD

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We expect for the pair Sterling against the U.S. dollar a fluctuation between the level of 1.56560 and the level of 1.56000, determined indicators showing mixed sign, so we advice to monitor the price very well if the pair can breakthrough the level 1.55200 that will cause a decline for the target of 1.53850 but if the pair can penetrate the level of 1.58100 that will cause a bullish trend to the level of 1.61000.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.56569 1.56830 1.57274 1.56000 1.55900 1.55774 1.55334

USD/JPY

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The pair U.S. dollar against the Japanese Yen still facing strong resistance around the level of 84.240 , determined indicators showing positive sign for the pair which may help the pair to breakthrough this level today to the target of 85.350.

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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We expect today for the pair U.S. dollar against the Swiss Franc a correction movement to retest the level of 0.96250 before it can continuo it’s decline again to the level 0.94470.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.96250 0.96915 0.97338 0.96711 0.96138 0.95879 0.95456

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

http://www2.fxcbs.com/newsletter/images/USDCAD.gif

Determined indicators for the pair U.S. dollar against the Canadian dollar showing negative sign which may cause a decline to the level 0.99250 then to the level 0.98180 , these expectation require stability of the trading below the level of 1.00810.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 1.00692 1.00810 1.01004 1.00550 1.00456 1.00338 1.00144

Major Currencies Analysis
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