Major Currencies Analysis 28/01/2011 FXCBS

Friday January 28 , 2011

Major Currencies Analysis

EUR/USD

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The pair Euro against the U.S. dollar still trading between the level of 1.37450 and the level of 1.36400, today we can see a saturation in the purchasing process through determined indicators but we can still see that the pair still trading above the level of MA 50, so we advice to monitor these tow level and seeing what the price will do around it.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.37170 1.37530 1.38130 1.36520 1.36400 1.36080 1.35480

GBP/USD

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Determined indicators showing saturation in the selling process and the MA 50 still support the price to rise up , so we expect today a bullish intraday which is require a clear penetration to the level of 1.59900 and stability of the trading above the level of 1.58100.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.58889 1.59620 1.60828 1.58610 1.57427 1.56696 1.55480

USD/JPY

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Determined indicators showing negative sign for the pair U.S. dollar against the Japanese Yen, the pair still trading below the level of 83.000, so we expect that the pair will decline today to the level 82.050, we expect that the pair will penetrate the level of MA 50 and then open the way to achieve our expectations.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/JPY 82.440 82.630 82.941 82.290 82.060 81.874 81.563

USD/CHF

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Determined indicators for the pair U.S. dollar against the Swiss Franc showing saturation in the purchasing process after the pair made a correction to the level of 0.94600, so we expect today a decline for the pair to achieve new goals.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.94500 0.94890 0.95430 0.94490 0.93910 0.93580 0.93044

AUD/USD

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Determined indicators for the pair Australian dollar against the U.S. dollar showing positive sign which may lead the pair to raise up to the level 1.00450 as the first target but we need a closing for hours candlestick above the level of 0.99740.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
AUD/USD 0.99170 0.99390 0.99740 0.98830 0.98800 0.98530 0.98180

USD/CAD

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The pair U.S. dollar against the Canadian dollar still trading below the level of 1.00000 also the MA 50 pushing the price to decline so we still expect that the pair will decline during the trading today .

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 0.99912 1.00166 1.00587 0.99606 0.99404 0.99150 0.98729

Newsletter - Major Currencies Analysis
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