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Technical analysis of the NZD/USD pair on April 29th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD is testing again the support at 0.80. We maintain to trade only long positions as far as 0.80 is support. The breakout of 0.81 will give a new buy signal and open the way towards 0.82. However, if 0.80 is broken, we will be neutral.
See the previous analysis of the NZD/USD pair of April 28th, 2011
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Technical analysis of the USD/CAD pair on April 29th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD again rebounded on the support at 0.9475. We maintain to trade only short positions as far as this level is resistance. The breakout of 0.9475 will give a new sell signal. However, if 0.9550 is broken, we will be neutral between thisl evel and 0.9593.
See the previous analysis of the USD/CAD pair of April 28th, 2011
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Technical analysis of the USD/CHF pair on April 29th, 2011
Commentary of the USD/CHF pair :
The pair USD/CHF failed to break the support at 0.87. We maintain to trade only short positions as far as 0.88 is resistance. The breakout of 0.87 will give a new sell signal and open the way towards 0.86.
See the previous analysis of the USD/CHF pair of April 28th, 2011
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Technical analysis of the USD/JPY pair on April 29th, 2011
Commentary of the USD/JPY pair :
81.50 gave support to the pair USD/JPY which is currently testing this level. We maintain to trade only short positions as far as 82.50 is resistance even if the pair got out of its bearish channel. The breakout of 81.50 will give a new sell signal and open the way towards 80.95 (level 50%).
See the previous analysis of the USD/JPY pair of April 28th, 2011
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US Dollar Takes Beating as Fed Reaffirms Record Low Rates
The US dollar took a beating yesterday following statements from the Federal Open Market Committee (FOMC) that removed any doubt on the persistence of record low interest rates. According to the FOMC report and subsequent statement by Federal Reserve Board Chairman Ben Bernanke, inflation is on track to healthy growth and the energy prices should stabilize and decline in the months ahead, which convinced the Fed to hold rates steady for the foreseeable future. The result has been a broad sell-off of the USD as investors took the statement as a sign that the greenback would not be finding support anytime soon.
Economic News
USD - US Dollar Dropping Sharply after FOMC Statement
The US dollar took a dive yesterday following statements from the Federal Open Market Committee (FOMC) that ...
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Technical analysis of the XAU/USD (Gold) pair on April 28th, 2011
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD just validated the breakout of 1520, offering a new buy siganl. The pair is currently moving towards new historical highs. All indicators are bullish. We maintain to trade only long positions as far as 1510 is support. The breakout of 1530 will give a new buy signal for new highs. The next potential resistance is at 1540.
See the previous analysis of the XAU/USD pair of April 27th, 2011
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Technical analysis of the AUD/USD parity on April 28th, 2011
Commentary of the AUD/USD parity:
The pair AUD/USD continues its bullish rallye towards new highs. The pair just validated the breakout of 1.09, offering a new buy signal. All indicators are bullish. We maintain to trade only long positions as far as 1.08 is support. THe breakout of 1.10 will give a new buy signal and open the way towards new highs.
See the previous analysis of the AUD/USD parity of April 27th, 2011
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Technical analysis of the EUR/GBP pair on April 28th, 2011
Commentary of the EUR/GBP pair:
The pair EUR/GBP continues to move between 0.8850 and 0.89 after having test the lower band of its bullish channel as resistance. All indicators are bullish. We maintain to trade only long positions as far as 0.8850 is support. The breakout of 0.89 will give a new buy signal and open the way towards 0.8950. However, if 0.8850 is broken, we will wait the breakout of 0.88 to trade short positions.
See the previous analysis of the EUR/GBP pair of April 27th, 2011
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Technical analysis of the EUR/JPY pair on April 28th, 2011
Commentary of the EUR/JPY pair :
The pair EUR/JPY validated yesterday the breakout of 121, offering a new buy signal. The price just found resistance on 122 and is currently making a correction towards 121. All indicators are bullish. We maintain to trade only long positions as far as 120 is support. The breakout of 122 will give a new buy signal and open the way towards 123.
See the previous analysis of the EUR/JPY pair of April 27th, 2011
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