EURUSD

USD has significantly grown against the major currencies, since risks are coming to the fore again. The announcement of the American President Administration representatives that bankruptcy can become the best way of resolution of General Motors Corp. and Chrysler LLC problems has provoked downfall of the world share markets and aroused growth of demand for safe assets.

In particular, EURUSD pair lowered down to 1.3112 on Monday. Then the way for bears is barred with psychological barrier 1.3000, above which it is possible to try buying from 1.3050-1.3080 basing on the assumption that strong EUR downfall will not be allowed before the G20 summit. Mark 1.3400-1.2420 looks quite a strong resistance level. Moreover, Fibonacci correction level 61.8 from the latest jerk downwards is located here. In general, this week the situation at currency markets will be determined with ECB meeting and results of the summit in Great Britain.

GBPUSD

As we supposed before, divergence with the price in the MACD histogram has allowed making a conclusion about high possibility of correction downwards. This is the very thing we can see now. GBP is trying to recover now, and the pair is testing mark 1.4280. The next resistance level is 1.4360, followed by 1.4420-1.4430 and 1.4520-1.4530. The support is level 1.41, marked with a fractal downwards. The strategic barrier is level 1.40. So far the price keeps above the level, and everything is not so bad for bulls, however, in case if it is broken downwards, the descending impulse may be accelerated.

EURJPY

The price has beautifully reached the target on the model triangle, the descending impulse has been stopped by a support in the area of 126 JPY, which used to be a strong resistance level before. In case if it is broken, the way to the next target, into the area of 122.50 will be opened. The range between 130 and 131 looks the most important nearest resistance level.

Have a nice day! Alex Sabodin.                                                       

Pro Finance Group Inc.