Major Currencies Analysis 27/12/2010 FXCBS

Monday December 27 , 2010

Major Currencies Analysis

EUR/USD

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We expect today that the pair Euro against the U.S. dollar will decline to the level of 1.30940 then to the level 1.30550, stability of the trading below MA 50 support our expectation, and these expectations require stability of the trading below the level of 1.32500.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
EUR/USD 1.31274 1.31442 1.31710 1.31152 1.30940 1.30772 1.30497

GBP/USD

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We expect today a declining for the pair Sterling against the U.S. dollar to the level 1.53570 first then to the level 1.52900, stability of the trading for the pair below the MA 50 support our expectations, these expectations require stability of the trading below the main resistance point around the level of 1.55560.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
GBP/USD 1.54617 1.54843. 1.55214 1.54359 1.54167 1.53941 1.53570

USD/JPY

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We expect today a decline for the pair U.S. dollar against the Japanese Yen but these expectation require stability of the trading below the level of 83.600 and clear penetration for the level 82.300.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/JPY 82.945 83.170 83.160 82.940 82.748 82.659 82.512

USD/CHF

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We advice to monitor the price today for the pair U.S. dollar against the Swiss Franc, we can see that the pair could break through the main resistance point at 0.95830 and we can see that the pair still trading below the MA 50 and determined indicators still showing negative sign all of that lead us to wait and see what the pair will do today.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CHF 0.96401 0.96623 0.96990 0.96019 0.95999 0.95737 0.95370

AUD/USD

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We expect for the pair Australian dollar against the U.S. dollar will rise up to the level of 1.00550 then it will fall down in a correction movement, determined indicators supporting our expectation, we can see there is saturation in the purchasing process.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
AUD/USD 1.00039 1.00205 1.00477 0.99827 0.99709 0.99543 0.99271

USD/CAD

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The pair U.S. dollar against the Canadian dollar still trading below the level of MA 50 , determined indicators showing negative sign lead us to expect that the pair will decline to the target level at 1.0000 then to the level of 0.99250.

Support & Resistance:
Pair R1 R2 R3 P S1 S2 S3
USD/CAD 1.00862 1.01042 1.01337 1.00779 1.00502 1.00322 1.00027

Major Currencies Analysis
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