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Currently Testing The SupportTitle:
Technical analysis of the NZD/USD pair on March 10th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD well continued its bearish movement and is currently testing its lowest at 0.7350. We maintain to trade only short positions as far as 0.7413 is resistance. The breakout of 0.7350 will give a new sell signal. The next support is at 0.73.
See the previous analysis of the NZD/USD pair of March 9th, 2011
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Technical analysis of the USD/CAD pair on March 10th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD continued its bearish movement and the breakout of 0.9712 gave us a new sell signal. The, the next support at 0.9684 (level 0%) has been tested. Currently, the pair is testing a pullback on 0.9712. We maintain to trade only short positions as far as 0.9720 is resistance. The breakout of 0.9684 will give a new sell signal. However, if 0.9720 is broken, we will wait a return below this level to trade again short positions.
See the previous analysis of the USD/CAD pair of March 9th, 2011
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Traders Eye British Interest Rates
The BOE will take center stage as the British central bank is expected to hold interest rates steady. The market has priced in a 1 in 5 chance of a surprise interest rate increase at today's meeting.
Economic News
USD - Two Day Dollar Rally Stalls
A lack of economic data kept the dollar in check yesterday as traders took a pause in this week's dollar buying. However, the Canadian dollar reached its strongest level versus the US dollar since November 2007.
Before the opening of the US trading session the EUR/USD reached a high of 1.3940. However, the pair finished the day up only slightly at 1.3904. Traders sent the pair lower early in European trading pushing the price to a new weekly low but were unable to drive the pair much lower than the 1.3860 level. The failure of the pair to ...
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Technical analysis of the USD/JPY pair on March 10th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY well continued its bullish movement and is currently testing the resistance at 82.88 (level 38.20%). We maintain to trade only long positions as far as 82.54 (level 50%) is support. The breakout of 82.88 will give a new buy signal. The next resistance is at 83.29 (level 23.60%). However, if 82.54 is broken, we will be neutral.
See the previous analysis of the USD/JPY pair of March 9th, 2011
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Technical analysis of the GBP/USD pair on March 9th, 2011
Commentary of the GBP/USD pair :
The pair GBP/USD is currently testing the support at 1.6154 (level 23.60%). We are neutral on the pair between this level and 1.6216. We advise to wait an exit of this range to take position:
- Long is 1.6216 is broken. The next resistance is at 1.6250
- Short if 1.6154 is broken. The next support is at 1.6077 (level 38.20%).
See the previous analysis of the GBP/USD pair of March 8th, 2011
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Technical analysis of the USD/CHF pair on March 9th, 2011
Commentary of the USD/CHF pair :
The pair USD/CHF finaly broke the resistance at 0.9330, giving us a buy signal. Currently, the pair is testing the level 23.60% at 0.9357. We maintain to trade only long positions as far as 0.93 is support. The breakout of 0.9357 will give a new buy signal towards 0.94. However, in case of return below 0.93, we will be neutral.
See the previous analysis of the USD/CHF pair of March 8th, 2011
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Technical analysis of the EUR/CHF pair on March 8th, 2011
Commentary of the EUR/CHF pair:
The pair EUR/CHF found support just above 1.29 and is currently testing again 1.30. All indicators are bullish. We maintain to trade only long positions as far as 1.29 is support. The breakout of 1.30 will give a new buy signal for a pursuit of the movement towards 1.31.
See the previous analysis of the EUR/CHF pair of March 7th, 2011
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Technical analysis of the EUR/JPY pair on March 8th, 2011
Commentary of the EUR/JPY pair :
The pair EUR/JPY just reached the support at 114.50 and is currently testing a return above 115. The pair continues to move below its bullish slant. All indicators are bullish. We maintain to trade only long positions as far as 114.50 is support. If the price stay above 115, that will comfort our bullish feeling. The breakout of 116 will give a new buy signal.
See the previous analysis of the EUR/JPY pair of March 7th, 2011
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Technical analysis of the USD/CHF pair on March 8th, 2011
Commentary of the USD/CHF pair :
The pair USD/CHF is currently testing a pullback on the resistance at 0.9330. We maintain to trade only short positions as far as 0.9330 is resistance. The breakout of 0.9250 will give a new sell signal. The next support is at 0.92. However, if 0.9330 is broken, a buy signal will be given.
See the previous analysis of the USD/CHF pair of March 7th, 2011
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