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Short Positions As FarTitle:
Technical analysis of the EUR/CHF pair on June 23th, 2011
Commentary of the EUR/CHF pair:
The pair EUR/CHF continues to move below its bearish slant (purple line).
All indicators are now bearish.
We maintain to trade only short positions as far 1.22 is resistance.
The breakout of 1.20 will give a new sell signal and open the way towards new lowest.
However, in case of return above 1.22, we will then advise to trade only long positions.
See the previous analysis of the EUR/CHF pair of June 22th, 2011
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Technical analysis of the EUR/GBP pair on June 23th, 2011
Commentary of the EUR/GBP pair:
After a pullback on 0.8850, the pair EUR/GBP validated yesterday a breakout of 0.89, offering a new buy signal.
The pair just found resistance at 0.8950.
All indicators are bullish.
We maintain to trade only long positions as far as 0.8850 is support.
The breakout of 0.8950 will give a new buy signal and open the way towards 0.90.
However, if 0.8850 is broken, we will then advise to trade only short positions.
See the previous analysis of the EUR/GBP pair of June 22th, 2011
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Technical analysis of the GBP/JPY pair on June 23th, 2011
Commentary of the GBP/JPY pair :
The pair GBP/JPY continues its bearish movement and is currently testing the support at 129.09 (level 61.80%).
We maintain to trade only short positions as far as 130.26 is resistance.
The breakout of 129.09 (level 61.80%) will give a new sell signal and open the way towards 128.
However, if 130.26 is broken, we will be neutral between this level and 131.18 (level 50%).
See the previous analysis of the GBP/JPY pair of June 22th, 2011
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Technical analysis of the GBP/USD pair on June 23th, 2011
Commentary of the GBP/USD pair :
The pair GBP/USD got out of its neutral zone 1.62/1.6250 from the bottom, giving us a sell signal.
A strong bearish rallye has followed and the breakout of 1.61 gave us a new sell signal.
The pair seems now to move into a big bearish channel.
We maintain to trade only short positions as far as the pair is moving into its channel.
The breakout of 1.5987 will give a new sell signal.
See the previous analysis of the GBP/USD pair of June 22th, 2011
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Technical analysis of the NZD/USD pair on June 23th, 2011
Commentary of the NZD/USD pair :
The pair NZD/USD is currently testing a key level.
Indeed, the pair is testing the upper band of its bullish channel which match with the resistance at 0.8173.
All the last bullish movement has been led by a short term bullish slant.
We maintain to trade only long positions as far as 0.8120 is support.
The breakout of 0.8173 will give a new buy signal and open the way towards 0.8250.
However, if 0.8120 is broken, a sell signal will be given.
See the previous analysis of the NZD/USD pair of June 22th, 2011
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Technical analysis of the USD/CAD pair on June 23th, 2011
Commentary of the USD/CAD pair :
The pair USD/CAD made a pullback on the resistance at 0.9747.
We maintain to trade only short positions as far as 0.9780 is resistance.
The breakout of 0.9711 will give a new sell signal and open the way towards 0.9680.
However, if 0.9780 is broken, we will be neutral.
See the previous analysis of the USD/CAD pair of June 22th, 2011
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Technical analysis of the USD/JPY pair on June 23th, 2011
Commentary of the USD/JPY pair :
The pair USD/JPY continued its correction to make a pullback on 80.50.
We maintain to trade only short positions as far as this level is resistance.
The breakout of 79.80 will give a new sell signal and open the way towards 79.50.
However, if 80.50 is broken, we will be neutral between this level and 80.77.
See the previous analysis of the USD/JPY pair of June 22th, 2011
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US Housing Market on the Rise?
US housing data beat expectations yesterday, as the Office of Federal Housing Enterprise Oversight (OFHEO) released an assessment showing homes that were mortgaged by Fannie Mae and Freddie Mac saw a rise in value of approximately 0.8% this past month. The report came one day after the National Association of Realtors published the existing home sales data that also met growth forecasts. The numbers may prove a turning point in the US housing market if growth can continue along this trajectory.
Economic News
USD - Dollar Flat after Fed Held Rates Steady
The US dollar was seen trading flat late yesterday as traders began to seek riskier assets after the Federal Reserve released its rate statement, hinting at no future economic stimulus or monetary policy tightening. The EUR/USD was seen ...
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Buy Food!
A headline caught my eye last week, beyond all the ink spent on European debt woes. It read, “Hungry China Shops in Argentina.” China already buys most of Argentina’s soybean exports. And now China’s largest farming company is trying to lock down acreage for more soybeans. It also unveiled a plan to grow wheat, corn, vegetables, fruit and even wine – all for export to China.
The moves in Argentina mirror China’s efforts in other parts of the world to secure food supplies. The simple reason is that China is having more and more problems producing the foodstuffs it needs at home.
The biggest challenge may be finding sources of water.
For months, south and central China have been suffering from drought. In the spring, Beijing sent deep well-drilling teams from all over the country to these ...
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