Major Currencies Analysis 22/12/2010 FXCBS

Wednesday December 22 , 2010

Major Currencies Analysis

EUR/USD

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The pair Euro against the U.S. dollar fall down yesterday to the level of 1.30780, today we expect that the pair will make a correction movement to the resistance level at 1.31800 before back to decline again; these expectations require stability of the trading below the level of 1.31800.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.31240 1.31694 1.32274 1.31246 1.30634 1.30280 1.29700

GBP/USD

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The pair Sterling against the U.S. dollar still facing strong support around the level 1.54500, today we can see good determined may help the pair to breakthrough this level to reach the target of 1.53900 around this level we should monitor the price what will make and take care around that level.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.55000 1.55400. 1.55997 1.54903 1.54311 1.53948 1.53351

USD/JPY

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Determined indicators for the pair U.S. dollar against the Japanese Yen showing mixed sign that will cause some fluctuation around the level of MA 50 (83.8000) before it can rise to attack the main resistance point at 84.240.

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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We can see mixed sign through the indicators on the pair U.S. dollar against Swiss Franc, we can see positive sign coming through determined indicators, on other hand we can note that the pair stabile yesterday below the level MA 50, all of these lead us to monitor the price level today and stay away from it until we can get a clear sign help us to take decision.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.95986 0.96297 0.96711 0.95986 0.95541 0.95541 0.94875

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 0.99987 1.00195 1.00539 0.99622 0.99600 0.99365 0.99021

USD/CAD

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Since beginning of the trading this week the pair U.S. dollar against the Canadian dollar still trading below the level 1.02000 , this lead us to expect today a declining for the pair to the level 0.99700 , this decline require today a breakthrough for the level of 1.01400 then 1.01000.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 1.01807 1.01959 1.02209 1.01740 1.01503 1.01351 1.01101


Major Currencies Analysis
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