Thread: Major Currencies Analysis 26/01/2011 FXCBS

Wednesday January 26 , 2011

Major Currencies Analysis

EUR/USD

http://www2.fxcbs.com/newsletter/images/EURUSD.gif

The pair Euro against the U.S. dollar trading for three days between the main resistance level at 1.36990 and the main support level at 1.35750 , if we look to the determined indicators we can see a saturation in the Purchasing process , but we can see also that the pair still trading above the level of MA50 , so we should monitor the price very well today , if the pair can break through the support level that mean we may see the target level around the level of 1.34250 , but if the pair can penetrate the level of 1.37160 and close one hour candlestick above it that mean the pair will continue its rising up to the level of 1.38400.

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

http://www2.fxcbs.com/newsletter/images/GBPUSD.gif

We expect more declining for the pair Sterling against the U.S. dollar during the trade today , Stochastic indicators still showing negative sign which may lead the pair to decline to the level of 1.57720 then to the level of 1.56696 , these expectations require a close one hour candlestick below the level of 1.58350.

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

http://www2.fxcbs.com/newsletter/images/USDJPY.gif

The pair U.S. dollar against the Japanese Yen trading below the level of MA50 , these lead us to save our expectation that the pair will decline to reach the level of 81.050 , but we need clear penetration for the level of 81.800.

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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The pair U.S. dollar against the Swiss Franc can penetrate the level of 0.94450 and close four hours candlestick below it , these lead us to expect more declining for the pair during the trading today to the level of 0.93583 then it may reach to the second target around the level of 0.92910.

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

http://www2.fxcbs.com/newsletter/images/AUDUSD.gif

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

http://www2.fxcbs.com/newsletter/images/USDCAD.gif

The pair U.S. dollar against the Canadian dollar still trading below the level of 1.00000, Stochastic indicators still given a negative sign , these lead us to save our expectation that the pair will declining 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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A currency option gives the holder the right, but not the obligation, either to buy (call) from the option writer, or to sell (put) to the option writer, a stated quantity of one currency in exchange for another at a fixed rate of exchange, called the strike price. The options can be American, which allows an option to be exercised until a fixed day, called the day of expiry, or European, which allows exercise only on the day of expiry, not before. The option holder pays a premium to the option writer for the option.