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Technical analysis of the USD/CAD pair on May 2nd, 2012
Commentary of the USD/CAD pair :
The resistance at 0.9887 has perfectly acted as resistance yesterday and the pair USD/CAD got back below 0.9866, comforting our bearish feeling.
Indicators are mitigated.
The pair is still moving into its bearish channel (purple lines).
We continues to advise short positions as far as 0.9887 is resistance.
The breakout of 0.98 will give a new sell signal and open the way towards 0.9750.
In case of return above 0.9887, we will wait the breakout of 0.9910 to advise long positions.
See the previous analysis of the USD/CAD pair of May 1st, 2012
USD/CAD Analysis
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Technical analysis of the USD/CHF pair on May 2nd, 2012
Commentary of the USD/CHF pair :
The pair USD/CHF has rebounded again on the support at 0.9050 and is moving towards a test of the resistance at 0.9108 and also its bearish slant (purple line).
Indicators are mitigated.
We now advise to trade only short positions as far as 0.9120 is resistance.
The breakout of 0.9050 will give a new sell signal and open the way towards 0.90.
In case of return above 0.9120, we will wait the breakout of 0.9150 to advise long positions.
See the previous analysis of the USD/CHF pair of May 1st, 2012
USD/CHF Analysis
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Technical analysis of the USD/JPY pair on May 2nd, 2012
Commentary of the USD/JPY pair :
The pair USD/JPY is currently testing a pullback on the resistance at 80.50 and also the upper band of its bearish channel (black lines).
Indicators are mitigated.
We continue to advise short positions as far as 80.74 is resistance.
A return below 80 will comfort our bearish feeling.
The breakout of 79.50 will give a new sell signal and open the way towards 79.
In case of return above 80.74, we will wait the breakout of 81.06 to advise long positions.
See the previous analysis of the USD/JPY pair of May 1st, 2012
USD/JPY Analysis
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Employment Data in Focus Today, Eyes on EU Finance Ministers' Meeting
Volatility dominated the session yesterday, where with the absence of several European and Asian nations low volumes triggered heavy fluctuations to markets; however, today markets are to return to normal especially with the heavy load of critical fundamentals from Europe and the United States as well, in addition to the European Union finance ministers' meeting on capital requirements.
The sentiment improved slightly with start of the session today after the improvement seen in the performance of the Chinese manufacturing sector, where this improvement eased fears slightly as the manufacturing sector of the largest exporter in the world approached expansion, the thing that might indicate global demand is not as weak as projected.
However, the sentiment returned to be shaky as Europe ...
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Technical analysis of the XAU/USD (Gold) pair on May 1st, 2012
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD made yesterday a pullback on 1650 points as support and also on the upper band of its medium term bearish channel (purple lines).
The pair continues to move on the lower band of its long term bullish channel.
Indicators stay globaly bullish.
We continues to advise long positions as far as 1650 points is resistance.
The breakout of 1680 points will give a new buy signal and open the way towards 1700 points.
In case of return above 1650 points, we will wait the breakout of 1640 points to advise short positions.
See the previous analysis of the XAU/USD pair of April 30th, 2012
XAU/USD Analysis
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Technical analysis of the AUD/USD parity on May 1st, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD has faked yesterday the breakout of 1.0450 and then a felt strongly during the night below 1.04 and is currently validating the breakout of 1.0350.
The pair is still moving above the upper band of its medium term bearish channel (purple line).
Indicators are mitigated.
We continue to advise short positions as far as 1.0350 is resistance.
The breakout of 1.03 will give a new sell signal and open the way towards 1.0250.
In case of return above 1.0350, we will wait the breakout of 1.04 to advise long positons.
See the previous analysis of the AUD/USD parity of April 30th, 2012
AUD/USD Analysis
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Technical analysis of the EUR/CHF pair on May 1st, 2012
Commentary of the EUR/CHF pair:
The pair EUR/CHF continues to move below the minor resistance at 1.2030 without volatility.
All indicators are bearish.
We continue to advise short positions as far as 1.2050 is resistance.
The breakout of 1.20 will give a new sell signal.
In case of return below 1.2050, we will wait the breakout of 1.2070 to advise long positions.
See the previous analysis of the EUR/CHF pair of April 30th, 2012
EUR/CHF Analysis
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Technical analysis of the EUR/JPY pair on May 1st, 2012
Commentary of the EUR/JPY pair :
The pair EUR/JPY has validated yesterday the breakout of 106, offering a sell signal.
The pair is now moving towards 105 and the fibonacci retracement 0% at 104.63 (reached in April 16th).
All indicators are bearish.
We continue to advise short positions as far as 106.50 is resistance.
The breakout of 105.50 will give a new sell signal and open the way towards 105.
In case of return above 106.50, we will wait the breakout of 107 to advise long positions.
See the previous analysis of the EUR/JPY pair of April 30th, 2012
EUR/JPY Analysis
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Technical analysis of the EUR/USD pair on May 1st, 2012
Commentary of the EUR/USD pair :
The pair continues to move on its bullsih slant.
All indicators are bullish.
We continue to advise long positions as far as 1.3150 is support.
The breakout of 1.3250 and 1.33 will both give a new buy signal.
In case of return below 1.3150, we will wait the breakout of 1.31 to advise short positions.
See the previous analysis of the EUR/USD pair of April 30th, 2012
EUR/USD Analysis
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