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Monday March 7 , 2011

Major Currencies Analysis

EUR/USD

The pair Euro against the U.S. dollar touch the level of 1.40000 then bake to decline below it , negative determined we can see through four hours candlestick so we expect today a small correction movement to the level of 1.38000 then we expect that the pair will return to attack the main resistance level at 1.40000.

Support & Resistance:

Pair	R1	R2	R3	P	S1	S2	S3
EUR/USD	1.40060	1.40243	1.40546	1.39785	1.39690.	1.39509	1.39200

GBP/USD

The pair Sterling against the U.S. dollar still trading above the level of MA 50 but we can see that the Stochastic indicators still showing negative sign so we expect that the pair will make some fluctuation before it can rise up and penetrate the level of 76.4% Fibonacci .

Support & Resistance:

Pair	R1	R2	R3	P	S1	S2	S3
GBP/USD	1.62870	1.63067	1.63383	1.62693	1.62480	1.62295	1.61970

USD/JPY

The pair U.S. dollar against the Japanese Yen still trading around the level of MA 50 , and the Stochastic indicators showing positive sign so we expect today that the pair will rise up , these expectations require stability of the trading above the level of 81.600.

Support & Resistance:

Pair	R1	R2	R3	P	S1	S2	S3
USD/JPY	82.525	82.768	83.140	82.520	82.070	81.840	81.470

USD/CHF

The pair U.S. dollar against the Swiss France still trading below the level of 0.93250 and still trading below the level of MA 50 so we still save our expectation for the pair and expect that the pair will decline today to achieve new goals .

Support & Resistance:

Pair	R1	R2	R3	P	S1	S2	S3
USD/CHF	0.92770	0.93037	0.93510	0.92650	0.92160	0.91873	0.91393

AUD/USD

Determined indicators for the pair Australian Dollar against the U.S. dollar showing negative sign , so we expect that the pair will decline during the trading today to the level of 1.00820, these expectations require stability of the trading below the level of 1.01796.

Support & Resistance:

Pair	R1	R2	R3	P	S1	S2	S3
AUD/USD	1.01633	1.01796	1.02080	1.01530	1.01277	1.01104	1.00820

USD/CAD

The pair U.S. dollar against the Canadian dollar still trading in a narrow range since last week , Stochastic indicators showing positive sign , this effect on the pair movement but we expect that the pair will get red from this positive sign soon to return to decline again .

Support & Resistance:

Pair	R1	R2	R3	P	S1	S2	S3
USD/CAD	0.97346	0.97460	0.97658	0.97217	0.97110	0.96992	0.96798

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