Black Line And Is Currently

Commentary of the USD/CAD pair : The pair USD/CAD made yesterday a pullback on the support at 1.0150 and then took up its bullish movement to test again the resistance at 1.0230. All indicators are bullish. The pair is currently testing the upper band of its bullish channel (black lines). We continue to advise long positions as far as 1.01 is support. The breakout of 1.0230 will give a new buy signal and will open the way towards 1.03. In case of return below 1.01, we will be neutral between this level and 1.0050. The breakout of 1.0050 will give a sell signal. See the previous analysis of the USD/CAD pair of May 22th, 2012 USD/CAD Analysis

Commentary of the USD/JPY pair : The pair USD/JPY has tested yesterday the resistance at 80.09 and then felt below 79.65. Indicators stay globaly bullish. The pair is currently moving above the upper band of its bearish channel (black lines) and above its bearish slant (purple line who act as support). We continue to advise short positions as far as 80.09 is resistance. A return below 79.26 will comfort our bearish feeling. The breakout of 79 will give a new sell signal and open the way towards 78.50 and 78. In case of return above 80.09, a buy signal will be given. See the previous analysis of the USD/JPY pair of May 22th, 2012 USD/JPY Analysis

The black gold resumed the downside wave today after yesterday strong gains, but the overall pessimism in Europe and fears that it would affect the global economy negatively remain afloat. Crude opened today’s session at $93.03 and recorded a high of $93.27 and a low of $92.54, where it is currently trading around $92.69 a barrel. Yesterday, crude oil strengthened on repercussions of key talks between Iran and the west on Iran’s nuclear program, the commodity gained momentum as well on signs that Europe may take new measures to fight the crisis after a G8 summit, which pushed the commodity and improved its outlook. After the relief rally in Europe and signs of more stimulus in China to avoid a possible slowdown in the growth pace helped crude to rise sharply upwards yesterday, the ...

Commentary of the USD/CAD pair : The pair USD/CAD failed to break the resistance at 1.0230 and is currently moving towards a pullback on 1.0150. Indicators are globaly bullish. The pair got back into its bullish channel (black lines). We continue to advise long positions as far as 1.01 is support. The breakout of 1.0230 will give a new buy signal and will open the way towards 1.03. In case of return below 1.01, we will be neutral between this level and 1.0050. The breakout of 1.0050 will give a sell signal. See the previous analysis of the USD/CAD pair of May 21th, 2012 USD/CAD Analysis

Commentary of the USD/JPY pair : The pair USD/JPY got back above the resistance at 76.26 and seems to move towards a pullback on 79.65. The pair is currently moving above the upper band of its bearish channel (black lines) and above its bearish slant (purple line who act as support). Indicators stay globaly bearish. We continue to advise short positions as far as 79.86 is resistance. The breakout of 79 will give a new sell signal and open the way towards 78.50 and 78. In case of return above 79.86, we will be neutral between this level and 80.09. See the previous analysis of the USD/JPY pair of May 21th, 2012 USD/JPY Analysis

Commentary of the USD/CHF pair : The pair USD/CHF has tested last friday the resistance at 0.95 and then a correction occured. The pair is currently testing a pullback on the support at 0.94 and just broke its bullish slant (black line). Indicators are globaly bearish. We continue to advise long positons as far as 0.94 is support. A return above 0.9450 will comfort our bullish feeling. The breakout of 0.95 will give a new buy signal and open the way towards 0.9550. In case of return below 0.94, we will be neutral between this level and 0.9350. See the previous analysis of the USD/CHF pair of May 18th, 2012 USD/CHF Analysis

Commentary of the USD/JPY pair : The pair USD/JPY has continued its bearish movement last friday and the breakout of 79.26 gave us a new sell signal. The pair is currently testing a pullback on this level and is also testing the upper band of its bearish channel (black lines). All indicators are bearish. The pair is still taking support on its bearish slant (purple line). We continue to advise short positions as far as 79.86 is resistance. The breakout of 79 will give a new sell signal and open the way towards 78.50 and 78. In case of return above 79.86, we will be neutral between this level and 80.08. See the previous analysis of the USD/JPY pair of May 18th, 2012 USD/JPY Analysis

Commentary of the USD/JPY pair : A strong bearish movement occured yesterday on the pair USD/JPY who got out of the range 80.09/80.41 from the bottom, giving us a sell signal. All indicators are bearish. Currently, the pair is testing the support at 79.26. The pair is moving just above the upper band of its bearish channel (black lines) and seems to take support on a bearish slant (purple line). We continue to advise short positions as far as 80.09 is resistance. The breakout of 76.26 will give a new sell signal and open the way towards 78.50. In case of return above 80.09, we will be neutral between this level and 80.41. See the previous analysis of the USD/JPY pair of May 17th, 2012 USD/JPY Analysis

Commentary of the EUR/USD pair : The pair EUR/USD has continued yesterday its bearish movement and the breakout of 1.28 and 1.2750 both gave us a new sell signal. Currently, the pair is testing the next support at 1.27. This level match with the lower band of its bearish channel (black lines). The opening bearish gap is still not filled in. All indicators are bearish. We continue to advise short positons as far as 1.2850 is resistance. The breakout of 1.27/1.2650/1.26 will all give a new sell signal. In case of return above 1.2850, we will wait the breakout of 1.29 to advise long positions. See the previous analysis of the EUR/USD pair of May 15th, 2012 EUR/USD Analysis