Major Currencies Analysis 24/01/2011 FXCBS

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Monday January 24 , 2011

Major Currencies Analysis

EUR/USD

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The pair Euro against the U.S. dollar rise up to achieve the highest level around the level of 1.36349 after the pair could stabile above the level of 1.34250 , today we expect a small correction for the pair to the level of 1.35220 before it can rise up again to achieve new goals around the level of 1.37300.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.36676 1.37160 1.37974 1.354640 1.35600 1.35220 1.34100

GBP/USD

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

Stability of the trading above the level of 1.59100 and above the MA 50 for the pair Sterling against the U.S. dollar still lead us to expect more bullish during the trading today to the level of 1.61440 , these expectation require stability of the trading above the level of 1.59100.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.60382 1.60794 1.61481 1.59600 1.59600 1.59140 1.58450

USD/JPY

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The pair U.S. dollar against the Japanese Yen still trading below the level of 83.000 and stabile below the level of MA 50 , these lead us to expect more decline today for the pair to the level of 82.000 then to the level 81.600.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/JPY 82.750 82.863 83.150 82.720 82.400 82.247 81.990

USD/CHF

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We expect for the pair U.S. dollar against the Swiss Franc some fluctuation around the level of 0.95700 and it may make some correction to get red from positive sign which is showing through determined indicators , these expectation require stability of the trading below the level of 0.96250.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.96144 0.96467 0.96980 0.96140 0.95525 0.952111 0.94696

AUD/USD

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

The construct of the candlestick for the pair Australian dollar against the U.S. dollar showing that the pair will decline more today also Stochastic indicators supporting our expectation for that .

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
AUD/USD 0.99172 0.99652 1.00446 0.99028 0.98210 0.97730 0.96936

USD/CAD

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The pair Canadian dollar against the U.S. dollar still trades below the main resistance level around the level of 1.00000, stochastic indicator also showing saturation in the purchasing process, all of that lead us to expect a declining for the pair during the trade today.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 0.99542 0.99759 1.00117 0.99428 0.99100 0.98889 0.98530

Newsletter - Major Currencies Analysis
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