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Only Long PositionsTitle:
Technical analysis of the GBP/USD pair on January 5th, 2011
Commentary of the GBP/USD pair :
A bullish acceleration occured on the pair GBP/USD and the breakout of 1.5561 (level 38.20%) gave us a new buy signal. A pullback has just been made on this level. We maintain to trade only long positions as far as 1.5561 is support. The breakout of 1.5628 (level 50%) which has been already tested, will give a new buy signal. However, if the price gets back below 1.5561, we could trade short positions.
See the previous analysis of the GBP/USD pair of January 4th, 2011
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Technical analysis of the NZD/USD pair on January 5th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD got out of its neutral zone (0.7660 - 0.7710) from the bottom, giving us a sell signal. Currently, the pair is tesing a bullish slant. We maintain to trade only short positions as far as 0.7660 is resistance. The breakout of the slant will give a new sell signal. 0.7660 is our key level. If the price gets back above this level, we will then advise to trade long positions as far as the slant is support.
See the previous analysis of the NZD/USD pair of January 4th, 2011
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Technical analysis of the USD/JPY pair on January 5th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY continues to move between the fibonacci retracement 50% at 82.33 and the level 61.80% at 81.84. A bearish slant is acting as resistance. We maintain to trade only short positions as far as the slant is resistance. A return below 81.84 (level 61.80%) will comfort our bearish feeling and the breakout of 81.36 will give a new sell signal. However, if the slant is broken, we will then advise to trade only long as far as 82.33 is support.
See the previous analysis of the USD/JPY pair of January 4th, 2011
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Technical analysis of the XAU/USD (Gold) pair on January 4th, 2011
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD just found resistance on 1420 and is currently testing 1310 as support. Indicators stay globaly bullish. We maintain to trade only long positions as far as 1400 is support. The breakout of 1420 will give a new buy signal. The next resistance is at 1430.
See the previous analysis of the XAU/USD pair of January 3rd, 2011
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Technical analysis of the EUR/CHF pair on January 4th, 2011
Commentary of the EUR/CHF pair:
The pair EUR/CHF failed to break the support area towards 1.2450/1.24. The price is currently testing the resistance at 1.2550. All indicators are now bullish. We now advise to trade only long positions as far as 1.25 is support. The breakout of 1.2550 will give a new buy signal.
See the previous analysis of the EUR/CHF pair of January 3rd, 2011
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Technical analysis of the EUR/GBP pair on January 4th, 2011
Commentary of the EUR/GBP pair:
The pair EUR/GBP made its return above 0.86. The price is still above its bullish slant. All indicators are bullish. We maintain to trade only long positions as far as 0.8550 is support. The breakout of the next resistance at 0.8650 will give a new buy signal. The next resistance is at 0.87.
See the previous analysis of the EUR/GBP pair of January 3rd, 2011
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Technical analysis of the EUR/JPY pair on January 4th, 2011
Commentary of the EUR/JPY pair :
The pair EUR/JPY found support on 108. The price is now back above 109 and is currently testing the breakout of 109.50 (highest of December 28th 2010). All indicators are now bullish. The breakout of 109.50 will give a buy signal. We will then advise to trade only long positions as far as 109 is support. Next resistance are at 110 and 110.50.
See the previous analysis of the EUR/JPY pair of January 3rd, 2011
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Technical analysis of the EUR/USD pair on January 4th, 2011
Commentary of the EUR/USD pair :
The pair EUR/USD found support on 1.3250 to then got back on 1.34 as resistance. THe price just reached this level, filling in the bearish gap of the weekend. All indicators are now bullish. We maintain to trade only long positions as far as the price is above 1.33. The breakout of 1.34 will give a new buy signal. The next resistance is at 1.35.
See the previous analysis of the EUR/USD pair of January 3rd, 2011
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Technical analysis of the USD/JPY pair on January 4th, 2011
Commentary of the USD/JPY pair :
A strong correction occured on the pair USD/JPY. The price is currently testing the fibonacci retracement 50% at 82.33. We advise again to trade only short positions as far as the bearish slant is resistance (purple line). A return below 81.84 (level 61.80%) will comfort our bearish feeling. However, if the slant is broken, we will then advise to trade only long positions as far as 82.33 is support.
See the previous analysis of the USD/JPY pair of January 3rd, 2011
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