Major Currencies Analysis 21/12/2010 FXCBS

Tuesday December 21 , 2010

Major Currencies Analysis

EUR/USD

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The pair Euro against the U.S. dollar retests the level of 1.31800 this morning, determined indicators showing negative sign so we expect that the pair will decline to the target of 1.30600, stability of the trading below the level of 1.32210 necessary to achieve these expectations.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.32460 1.33080 1.34110 1.32254 1.31220 1.30598 1.29572

GBP/USD

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We expect today more decline for the pair Sterling against the U.S. dollar to the level of 1.54200 then to the level 1.53450 determined indicators support our expectations and the closing one day candlestick below the level 1.55700 else.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.55766 1.56296 1.57173 1.55415 1.54706 1.54176 1.53299

USD/JPY

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Determined indicators for the pair U.S. dollar against the Japanese Yen showing positive sign lead us to expect rising for the pair to the level of 84.250 , we saw that the last decline was to given the pair enough determined to penetrate this level .

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/JPY 84.060 84.200 84.441 83.939 83.786 83.645 83.413

USD/CHF

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Determined indicators showing positive sign for the pair U.S. dollar against the Swiss Franc, we can see saturation in the selling process may push the pair up to the level of 0.96650 first then to the level 0.96930.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.97155 0.97601 0.98349 0.96495 0.96263 0.95817 0.95069

AUD/USD

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Determined indicators for the pair Australian dollar against the U.S. dollar still showing positive sign which may lead the pair to rise up to the level of 0.99760 , these expectations require stability of the trading above the level of MA50 (0.98500).

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
AUD/USD 0.99021 0.99257 0.99647 0.98817 0.98548 0.98311 0.97921

USD/CAD

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The pair U.S. dollar against the Canadian dollar rise up yesterday to the main resistance point at 1.02050 , today we can see a good determined to push the pair down to the level 1.01000 then to the level 0.99250 , we can see a saturation in the purchasing process may help the pair to decline today .

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 1.01648 1.01934 1.02411 1.01053 1.01055 1.00792 1.00315

Major Currencies Analysis
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