Bearish Slant Has Been

Commentary of the GBP/USD pair : After a pullback on the resistance at 1.61, the pair GBP/USD took up its bearish movement and the breakout of 1.6050 and 1.60 both gave us a new sell signal. The medium term bullish slant (black line) has been also broken. All indicators are bearish. We continue to advise short positions as far as 1.61 is resistance. The breakout of 1.5950 will give a new sell signal and open the week towards 1.59. In case of return above 1.61, we will be neutral between this level and 1.6150. The breakout of 1.6150 will give a buy signal. See the previous analysis of the GBP/USD pair of May 15th, 2012 GBP/USD Analysis

Fundamental Analysis EUR "There are growing fears that the Spanish economy is caught in a pernicious circle" - Nicholas Spiro, managing director of Spiro Sovereign Strategy Spain’s efforts to calm investors with 10 billion euros in savings on education and health spending failed to stem concerns the nation may need additional capital if the economy weakens more than expected. USD "Europe is a temporary concern. The market is signaling they haven’t fixed the whole problem" - James Swanson, chief investment strategist at MFS Investment Management U.S. stocks extended losses on Tuesday as Spain’s plan for more austerity failed to halt drop in bond prices. GBP "We now know that there will not be any new money printing and the rally in European equities appears to be over" - Stewart ...

The pair GBP/USD has finaly made a false breakout of the support at 1.5345 and so the bullish trend was not put in danger. A strong bullish rally occured and the breakout of 1.56 gave us a buy signal. The pair is moving again above its long term bullish slant (black line). The next resitance at 1.5912 has been already tested but led to a correction. The breakout of this level will give a new buy signal and open the way towards 1.6132. The trend will remain bullish as far as the slant is support. In case of breakout , we will be neutral between 1.56 and 1.5345. If this last level is broken, this will indicate a return of the bearish trend. Previous GBP/USD Daily Analysis - January 2012

Commentary of the GBP/USD pair : The pair GBP/USD has continued its bullish movement and got out of the range 1.54/1.55 from the top, giving us a buy signal. The medium term bearish slant (purple line) has been also broken. All indicators are bullish. We now advise only long positions as far as 1.5450 is support. The breakout of 1.56 will give a new buy signal and open the way towards 1.57. In case of return below 1.5450, we will be neutral between this level and 1.54. The breakout of 1.54 will give a sell signal. See the previous analysis of the GBP/USD pair of January 20th, 2012 GBP/USD Analysis

Commentary of the USD/JPY pair : The pair USD/JPY is currently testing its long term bullish slant after an open on a bearish gap (that has not been fill in) last sunday. Indicators are mitigated. We maintain to trade only long positions as far as 77.74 is support. A return above 78.11 will comfort our bullish feeling. The breakout of 78.50 will give a new buy signal and open the way towards 79. In case of return below 77.74, we will be neutral between this level and 77.50. See the previous analysis of the USD/JPY pair of December 26th, 2011 USD/JPY Analysis

Commentary of the USD/JPY pair : The pair USD/JPY has failed to break the resistance at 78 and a correction occured. The bullish slant has been broken and the pair is currently testing the support at 77.74. Indicators are globaly bearish. However, we maintain to trade only long positions as far as 77.74 is support. A return above 78 will comfort our bullish feeling. The breakout of 78.38 will give a new buy signal and open the way towards 79. In case of return below 77.74, we will be neutral between this level and 77.50. See the previous analysis of the USD/JPY pair of December 20th, 2011 USD/JPY Analysis

Commentary of the USD/CHF pair : The pair USD/CHF has continued its correction and the support at 0.94 has been broken. Howewer, a long term slant is still support. Indicators are globaly bearish. We are neutral between 0.93 and 0.94. We advise to wait an exit of this range to take position: - Long if 0.94 is broken. The breakout of 0.9450 and 0.9550 will both give a new buy signal - Short if 0.93 is broken. The breakout of 0.9224 and 0.9174 will both give a new sell signal. See the previous analysis of the USD/CHF pair of December 16th, 2011 USD/CHF Analysis

Commentary of the USD/JPY pair : The pair USD/JPY has found support yesterday on 77.60 and is currently testing the resistance at 78. The bearish slant has been broken (purple line). All indicators are bullish. We maintain to trade only long positions as far as 77.60 is support. The breakout of 78 will give a new buy signal and open the way towards 78.38. In case of return below 77.60, we will be neutral between this level and 77.40. See the previous analysis of the USD/JPY pair of December 12th, 2011 USD/JPY Analysis

Commentary of the USD/CHF pair : The pair USD/CHF continues to move between 0.88 and 0.8916. The bearish slant has been broker and is now support. All indicators are bullish. We stay neutral on the pair between 0.88 and 0.8916. We advise to wait an exit of this range to take position: - Long if 0.8916 is broken. The breakout of 0.90 will give a new buy signal - Short if 0.88 is broken. The breakout of 0.87 will give a new sell signal. See the previous analysis of the USD/CHF pair of November 2nd, 2011 USD/CHF Analysis