Major Currencies Analysis 10/01/2011 FXCBS

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Monday January 10 , 2011

Major Currencies Analysis

EUR/USD

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Last week the pair Euro against the U.S. dollar decline sharply and stabile below the level of MA50 to achieve the lowest level since three month ago, today we can see a positive sign showing through determined indicators on the four hours candlestick which may push the pair to rise up to retest the level of 1.29900 today before it can continuo it’s falling again, stability of the trading below this level necessary to save the bearish direction.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.29390 1.29760 1.30280 1.29450 1.28800 1.28480 1.27960

GBP/USD

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Stochastic indicators for the pair Sterling against the U.S. dollar showing negative sign , these lead us to expect a declining for the pair today to the level of 1.54400 then to the level of 1.53800 , these expectation require stability of the trading below the level of 1.56200 and clear penetration for the level of 1.55100.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.56060 1.56540. 1.57340 1.55130 1.55100 1.54620 1.53820

USD/JPY

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The pair U.S. dollar against the Japanese Yen trading in a narrow range , determined indicators given negative sign so we expect a decline for the pair to the level 82.590 first then to the level of 82.220.

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 negative sign but the pair still trading above the level MA50 these lead us to monitor the price very well today , but in general we expect that the pair will decline today to the level of 0.96160 then 0.95730.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 096950 0.97210 097650 0.96510 0.96500 0.96170 0.95730

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 still trading below the level of 1.0000 in addition to the saturation in the purchasing process which is showing through stochastic indicators , all of these lead us to expect a decline for the pair today to the level 0.99100 then 0.98630.

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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