Difficulties To Pursuit Its

Commentary of the EUR/CHF pair: The pair EUR/CHF has validated yesterday the breakout of 1.22, offering a new sell signal. However, the pair has some difficulties to pursuit its bearish movement. All indicators are bearish. We maintain to trade only short positions as far as 1.2250 is resistance. The breakout of 1.2150 and 1.21 will both give a new sell signal. In case of return above 1.2250, we will be neutral between this level and 1.23. See the previous analysis of the EUR/CHF pair of December 19th, 2011 EUR/CHF Analysis

Commentary of the EUR/USD pair : The pair EUR/USD has validated yesterday the breakout of 1.33, offering a new sell signal. The pair just validated a new breakout, the support at 1.32 but seems to have some difficulties to pursuit its bearish movement. The pair is still moving into its bearish channel. All indicators are bearish. We maintain to trade only short positions as far as 1.33 is resistance. The breakout of 1.3150 will give a new sell signal and open the way towards 1.31. In case of return above 1.33, we will wait the breakout of 1.34 to advise long positions. See the previous analysis of the EUR/USD pair of December 12th, 2011 EUR/USD Analysis

FUNDAMENTAL OUTLOOK at 0800 GMT (EDT +0400) USD The euro managed to recover further overnight as markets prepare for the opening of the EU Summit tomorrow. More details on what will be proposed surfaced yesterday and the new focus appears to be on the financial firepower of the Eurozone’s current rescue mechanisms, in addition to the pursuit of changes in the Eurozone’s treaties and institutional framework. Combining ESM and EFSF is being planned, though given the same level of guarantees, investors may question the efficacy of these proposals. US Treasury Secretary Geithner was in Europe rallying the Eurozone authorities and pledged to support the German-French scheme for greater fiscal integration. However, he dismissed suggestions that the Fed could also play a role in crisis ...

Commentary of the GBP/JPY pair : The pair GBP/JPY continues to move above 121.59 but seems to have some difficulties to pursuit its bullish movement. The pair is still moving into a pennant (continuation pattern). We maintain to trade only long positions as far as 120.50 is support. The breakout of 122.50 will give a new buy signal and open the way towards 123. In case of return below 120.50, a sell signal will be given. See the previous analysis of the GBP/JPY pair of October 25th, 2011 GBP/JPY Analysis

Commentary of the GBP/JPY pair : The pair GBP/JPY continues to move above 121.59 but seems to have some difficulties to pursuit its bullish movement. Currently, the pair is moving into a pennant (continuation pattern). We maintain to trade only long positions as far as 120.50 is support. The breakout of 122.50 will give a new buy signal and open the way towards 123. In case of return below 120.50, a sell signal will be given. See the previous analysis of the GBP/JPY pair of October 24th, 2011 GBP/JPY Analysis

Commentary of the USD/CHF pair : The pair USD/CHF have some difficulties to pursuit its bullish movement and is going to make another pullback on the support at 0.9175. Indicators are mitigated. The bullish gap that occured at the open of the market last Sunday is still not filled in. We maintain to trade only long positions as far as 0.9012 is support. The breakout of 0.93 will give a new buy signal and open the way towards 0.94. However, if 0.9012 is broken, we will be neutral between this level and 0.8913. See the previous analysis of the USD/CHF pair of October 7th, 2011 USD/CHF Analysis

Commentary of the USD/CHF pair : The pair USD/CHF have some difficulties to pursuit its bullish movement and is going to make another pullback on the support at 0.9175. Indicators stay globaly bullish. The bullish gap that occured at the open of the market is still not filled in. We maintain to trade only long positions as far as 0.9012 is support. The breakout of 0.93 will give a new buy signal and open the way towards 0.94. However, if 0.9012 is broken, we will be neutral between this level and 0.8913. See the previous analysis of the USD/CHF pair of October 6th, 2011 USD/CHF Analysis

Commentary of the EUR/GBP pair: The pair EUR/GBP have some difficulties to pursuit its bullish movement above 0.8850. The pair continues to test this level as support. All indicators are still bullish. We maintain to trade only long positions as far as the price is above 0.88. The breakout of 0.89 will give a new buy signal and open the way towards 0.8950. In case of return below 0.88, we will wait the breakout of 0.8750 to advise short positions. See the previous analysis of the EUR/GBP pair of August 29th, 2011

Commentary of the GBP/USD pair : The pair GBP/USD seems to have some difficulties to pursuit its bearish movement. However, we maintain to trade only short positions as far as 1.6430 is resistance. The breakout of 1.6350 will give a new sell signal and open the way towards 1.6250. However, if 1.6450 is broken, we will be neutral between this level and 1.65. See the previous analysis of the GBP/USD pair of May 10th, 2011