Major Currencies Analysis 14/12/2010 FXCBS

Tuesday December 14 , 2010

Major Currencies Analysis

EUR/USD

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We expect today that the pair Euro against the U.S. dollar will rise up to the level of 1.35250 then it will back down in a correction movement to the level 1.33180 , determined indicators showing that the pair very near to be saturation in the purchasing process that support our expectation .

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.34560 1.35250 1.35900 1.33180 1.32800 1.32400 1.31900

GBP/USD

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Stochastic for the pair Sterling against the U.S. dollar giving off overbought signs that may cause some trading around the breached level 1.58250, so we expect that the pair will retest the level of 1.58000 before continuo rising to the target of 1.58990.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.58292 1.58600 1.59128 1.58024 1.57662 1.57346 1.56822

USD/JPY

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The pair U.S. dollar against Japanese Yen still wedged between 83.000 and 84.240 we expect today that the pair will continuo it’s fluctuation cause of The negative pressure from stochastic.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/JPY 84.060 84.223 84.480 83.790 83.750 83.600 83.340

USD/CHF

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Momentum indicators showing positive sign for the pair U.S. dollar against Swiss franc so we expect that the pair will rise up in a correction movement to the level 0.97600 before back to decline again to the new target around the level of 0.95800.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.98190 0.98310 0.98520 0.98149 0.97931 0.97805 0.97592

AUD/USD

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The MA 50 still push the pair Australian dollar against the U.S. dollar up and we could see a positive sign through determined indicators , so we expect a bullish intraday for the pair to the level 0.99450 then to the level 0.99990.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
AUD/USD 0.98660 0.98958 0.99452 0.98319 0.98064 0.97766 0.97272

USD/CAD

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We expected for the pair U.S. dollar against Canadian dollar a bearish direction over an intraday basis around the level of 0.99450, these expectation require stability of the trading below the level of 1.00970.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 1.00990 1.01078 1.01222 1.00960 1.00813 1.00724 1.00580

Major Currencies Analysis
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