Major Currencies Analysis 5/01/2011 FXCBS

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Wednesday January 5 , 2011

Major Currencies Analysis

EUR/USD

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

The pair Euro against the U.S. dollar declined yesterday after it couldn’t breakthrough the main resistance point at 1.34330, today we expect more declining for the pair to the level of 1.31800 then to the level of 1.31270, but we may see some fluctuation around the level of 1.32650 cause of the saturation in the selling process which is showing through determined indicators.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.34020 1.34440 1.35067 1.33351 1.33080 1.32800 1.32137

GBP/USD

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Negative sign which is coming from determined indicators push the pair Sterling against the U.S. dollar to decline yesterday to the level of 1.55600, today we expect more decline for the pair to the level of 1.54750 then 1.54250 , these expectations require stability of the trading below the level of 1.56600 and clear penetration for the level of 1.55100.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.55297 1.55710. 1.56391 1.55019 1.54471 1.54058 1.53377

USD/JPY

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We expect today a declining for the pair U.S. dollar against the Japanese Yen to the level of 81.000 then 80.560, stochastic indicators and the MA 50 supported our expectations, and these expectations require stability of the trading below the level of 82.300.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/JPY 81.957 82.183 82.560 81.468 81.460 81.281 80.904

USD/CHF

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We expect today a decline for the pair U.S dollar against the Swiss Franc to the level 0.93300, yesterday the pair continuo the corrective movement at 61.8% Fibonacci, the determined indicators showing now saturation in the purchasing process which may help the pair to achieve our expectations.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.95370 0.95892 0.96779 0.94427 0.94400 0.93804 0.92917

AUD/USD

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We expect for the pair Australian dollar against the U.S. dollar will rise up to the level of 1.00550 then it will fall down in a correction movement, determined indicators supporting our expectation, we can see there is saturation in the purchasing process.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
AUD/USD 1.00039 1.00205 1.00477 0.99827 0.99709 0.99543 0.99271

USD/CAD

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The pair U.S. dollar against the Canadian dollar get red from the positive sign which was showed through determined indicators and retest the resistance point at 1.00000 , so we expect today a decline for the pair to the level of 0.99250.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 1.00156 1.00480 1.01017 0.99778 099510 0.99186 0.98649

Major Currencies Analysis
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