Major Currencies Analysis 7/01/2011 FXCBS

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Friday January 7 , 2011

Major Currencies Analysis

EUR/USD

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

Determined indicators for the pair Euro against the U.S dollar showing saturation in the selling process and the main support level at 1.29660 may push the pair to make a corrective movement to retest the level of 1.30800, the price of the Euro against the U.S. dollar should be below this level to save the bearish direction for the pair.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.32000 1.32597 1.33501 1.32000 1.30945 1.30397 1.29493

GBP/USD

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

The pair Sterling against the U.S. dollar penetrate the support level at 1.54600 yesterday and stable under it , also the pair stable below the level MA 50 all of these lead us to expect more declining today but we may see some witness before that happen .

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.55627 1.56114. 1.56917 1.55307 1.54655 1.54168 1.53365

USD/JPY

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Determined indicators for the pair U.S. dollar against the Japanese Yen showing saturation in the purchasing process, so we expect today that the pair will decline to the level of 82.300 first then 82.040.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/JPY 83.658 84.069 84.766 82.835 82.800 82.425 81.728

USD/CHF

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Determined indicators for the pair U.S. dollar against the Swiss Franc showing positive sign , but we can see that the strength indicators showing negative sign that lead us to expect some witness for the pair before it can continuo it’s bullish trend today .

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.97175 0.97770 0.98789 0.96037 0.96020 0.95390 0.94373

AUD/USD

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Determined indicators for the pair Australian dollar against the U.S. dollar showing positive sign that may push the pair to rise up today to the level of 0.99660 then 1.00101.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
AUD/USD 1.00367 1.00585 1.01110 1.00101 0.99631 0.99313 0.98788

USD/CAD

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The pair U.S. dollar against the Canadian dollar so close from the level of 1.0000 which we refer for it yesterday , today we expect that the pair will decline to the level of 0.99250 , determined indicators support our expectations .

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 0.99960 1.00050 1.00456 0.99707 0.99309 0.99062 0.98656

Major Currencies Analysis
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