On Thursday USD and JPY became main outsiders, since the G20 meeting results increased investors` inclination to risk. The G20 countries are expected to invest five trillion dollars for the global economy support by the end of 2010. An additional trillion dollars will be allocated to the International Monetary Fond (IMF) and other financial institutes. The news was accepted positively by market participants, which has reflected on dynamics of the stock indexes and currency rates. In addition, EUR was supported against USD by the ECB decision to lower the base rate by 0.25% instead of 0.50%. ECB Governor Trichet announced during his press-conference that no decision about any non-standard measures against the crisis had been taken. Saying in simple words, it means that unlike the American authorities, the European authorities are reluctant to emit money so far.

On Friday the major event for fundamental analysis will be Nonfarm Payrolls release for last month in the USA.  Let me remind you that by this moment this indicator has been negative for the fourteenth successive month. Employment Change is also to be released on Friday, and according to forecasts, the employment reduction is expected to amount to 650-660 thousand people in January, which cannot help arousing investors` concern regarding the American economy.  The Employment Change is to be released at 12:30 GMT.

The technical picture is as follows:

EURUSD

On Thursday EUR grew more than by 200 points against USD, therefore in a situation like this it is not reasonable to sell EUR/USD. Moreover, fundamental factors are playing into EUR hands. In case if the maximum at 1.3518 is exceeded, it will be better to buy, or to wait for the price pullback to 50% Fibonacci level, which is in the area of  1.3380.

GBPUSD

In the day price graph, the British currency is demonstrating confident growth. With such positive and active dynamics, we can witness testing of psychological barrier 1.5000. A the same time the pair is strongly overbought, therefore it is reasonable to wait for a pullback in hour graphs, and to determine buying signals by oscillators.  It is better to refrain from sells so far.

EURJPY

The base rate lowering in Europe which happened to be less than it had been expected, and investors` faith in soon finishing of the global economic crisis allowed EUR growing significantly against JPY. The pair has secured confidently above important mark 130.00, which is a positive factor for bulls. The resistance is 134.50, followed by 135.50, after that the way to 140 will be opened. The support is 132.80, followed by 131.80 and 130.

Have a nice day! Alex Sabodin.                                                    

Pro Finance Group Inc.