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Long Positions As FarTitle:
Technical analysis of the USD/CHF pair on May 11th, 2011
Commentary of the USD/CHF pair :
The pair USD/CHF continues its bullish movement and is currently testing the resistance at 0.88. We maintain to trade only long positions as far as 0.87 is support. The breakout of 0.88 will give a new buy signal and open the way towards 0.89. However, if 0.87 is broken, a sell signal will be given.
See the previous analysis of the USD/CHF pair of May 10th, 2011
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Greece Downgrade Holds EUR/USD at 3-Week Low
Yesterday's downgrade of Greece by Standard and Poor's ratings agency from B to BB- has put significant pressure on the euro zone's common currency. The euro was holding near a three-week low versus its primary currency counterpart - the US dollar - yesterday with today's outlook appearing to favor a consolidation movement.
Economic News
USD - USD Holds Gains versus EUR
The US dollar experienced relatively mild bullish results yesterday as traders began to shift away from the euro following Standard and Poor's (S&P) downgrade of Greece's rating from B to BB-, and Moody's threatened to lower its outlook on Athens by several degrees. The result has been for forex traders in the euro zone to bail out of their long positions on the EUR in exchange for safer currencies like the US dollar.
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Technical analysis of the AUD/USD parity on May 10th, 2011
Commentary of the AUD/USD parity:
The pair AUD/USD just met resistance on 1.08. Indicators are mitigated. We maintain to trade only short positions as far as 1.08 is resistance. A return below 1.07 will comfort our bearish feeling and the breakout of 1.06 will give a new sell signal and open the way towards 1.05. However, if 1.08 is broken, we will then advise to trade long positions.
See the previous analysis of the AUD/USD parity of May 9th, 2011
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Technical analysis of the EUR/GBP pair on May 10th, 2011
Commentary of the EUR/GBP pair:
The pair EUR/GBP is currently testing the breakout of the support at 0.8750. All indicators are bearish. We maintain to trade only short positions as far as 0.8825 is resistance. The breakout of 0.8750 will give a new sell signal and open the way towards 0.87. However, if 0.8825 is broken, we will wait the breakout of 0.8850 to trade long positions.
See the previous analysis of the EUR/GBP pair of May 7th, 2011
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Technical analysis of the EUR/JPY pair on May 10th, 2011
Commentary of the EUR/JPY pair :
The pair EUR/JPY is currently testing the minor support at 115. All indicators are bearish. We maintain to trade only short positions as far as 116.50 is resistance. The breakout of 115 will give a new sell signal and open the way towards 114. However, if 116.50 is broken, we will wait the breakout of 117 to trade long positions.
See the previous analysis of the EUR/JPY pair of May 9th, 2011
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Technical analysis of the EUR/USD pair on May 10th, 2011
Commentary of the EUR/USD pair :
The pair EUR/USD faked yesterday a return above 1.44. The pair is now back on 1.43 and is testing this level. All indicators are bearish. We maintain to trade only long positions as far as 1.4450 is resistance. The breakout of 1.43 will give a new sell signal and open the way towards 1.42. However, if 1.4450 is broken, we will wait the breakout of 1.45 to trade long positions.
See the previous analysis of the EUR/USD pair of May 9th, 2011
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Technical analysis of the NZD/USD pair on May 10th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD is moving between 0.79 and 0.7947, after a long test of the upper band of its bearish channel and also of the resistance at 0.7947. We maintain to trade only short positions as far as this level is resistance. The breakout of 0.78 will give a new sell signal and open the way towards 0.7750. However, if 0.7947 is broken, we will be neutral between this level and 0.80.
See the previous analysis of the NZD/USD pair of May 9th, 2011
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Technical analysis of the USD/CAD pair on May 10th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD continues to move between the support at 0.9592 and the resistance at 0.9678 with a high volatility. We maintain to trade only long positions as far as 0.9592 is support. The breakout of 0.9678 will give a new buy signal and open the way towards 0.9750. However, if 0.9592 is broken, we will be neutral between this level and 0.9550.
See the previous analysis of the USD/CAD pair of May 9th, 2011
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Technical analysis of the XAU/USD (Gold) pair on May 9th, 2011
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD is currently testing a return above 1500. All indicators are still bearish. We maintain to trade only short positions as far as 1510 is resistance. THe breakout of 1480 will give a new sell signal and open the way towards 1460. However, if 1510 is broken, we will wait the breakout of 1520 to trade long positions.
See the previous analysis of the XAU/USD pair of May 6th, 2011
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