Parity On July 29th

Forex News and Events: Forex markets are broadly moving in a risk on pattern aided by the decent rally in regional Asian indices despite massive event risk looming in the not distant future. USD has come under selling pressure while Gold continues to see exodus from longs dropping the precious metal sharply from $1921 to $1827.57. We wouldn’t put to much value in the recent price action as nothing has changed in the macro environment and more likely seeing a short term correction after a few days of severe risk aversion. The news flow today has been on the light side considering what we have been managing the last few days. News wires are buzzing about a possible $300bn jobs package to be unveiled by US President Obama in his Congressional address tomorrow. The primary means of funding ...

Commentary of the AUD/USD parity: The pair AUD/USD made a lowest just above 1.09 on friday. The pair then validated the return above 1.10. Indicators are mitigated. We maintain to trade only long positions as far as 1.09 is support. The breakout of 1.11 will give a new buy signal and open the way towards new historics lows. However, if 1.09 is broken, we will wait the breakout of 1.08 to advise short positions. See the previous analysis of the AUD/USD parity of July 29th, 2011

Commentary of the AUD/USD parity: The pair AUD/USD made a double top below 1.11. The pair is falling and just validated a return below 1.10. We stay neutral on the pair between 1.08 and 1.10. We advise to wait an exit of this range to take position: - Long if 1.10 is broken. The breakout of 1.11 will give a new buy signal and open the way towards new historics highs. - Short if 1.08 is broken. The breakout of 1.07 will give a new sell signal. See the previous analysis of the AUD/USD parity of July 28th, 2011

Commentary of the NZD/USD parity : The parity failed to break the major resistance at 0.7395 linking all the last highest (july 27th - September 14th and 22th) and is currently testing a pullback on 0.7350. We maintain to trade only long positions as far as this level is support. The breakout of 0.7395 will give a new buy signal. However, if 0.7350 is broken, we will stay neutral. Only a return below 0.7322 will allow us to trade short positions. See the previous analysis of the NZD/USD parity of September 29th, 2010

Commentary of the XAU/USD parity: The parity found support on 1160 and the price is currently making a rebound of correction. Indicators are globaly bearish. We maintain to trade only short positions as far as 1170 is resistance. The breakout of 1160 will give a new sell signal. As far as 1160 is support, a pullback on 1180 is possible. See the previous analysis of the XAU/USD parity of July 28th, 2010

Commentary of the AUD/USD parity: The parity found support on its bullish slant, after a lowest on the support at 0.89. Indicators are mixed. We maintain to trade only long positions as far as the price is above 0.89. The breakout of 0.9050 will give a new buy signal. However, if 0.89 is broken, a sell signal will be given. We will then advise to trade only short positions as far as 0.8950 will be resistance. See the previous analysis of the AUD/USD parity of July 28th, 2010

Commentary of the EUR/CHF parity: The price didn't succeed to break the resistance at 1.38 and is currently making a pullback on 1.37 or towards its bearish slant in extension. Indicators stay globaly bullish. We maintain to trade only long positions as far as 1.37 is support. The breakout of 1.38 will give a new buy signal. See the previous analysis of the EUR/CHF parity of July 28th, 2010

Commentary of the EUR/GBP parity: The parity is currently testing a rebound after having reach the lowest of July towards 0.8320. Indicators are globaly bullish. We maintain to trade only short positions as far as the price is below 0.8375. The breakout of 0.8320 will give a new sell signal. See the previous analysis of the EUR/GBP parity of July 28th, 2010

Commentary of the EUR/JPY parity : The parity found resistance on the lower band of its former bullish channel. The price made a pullback on the highest of July and is testing a rebound. We maintain to trade only long positions as far as the price is above 113.50. A return above 114 will comfirm the take up of the bullish movement. The breakout of 114.75 will give a new buy signal. See the previous analysis of the EUR/JPY parity of July 28th, 2010