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Technical analysis of the EUR/USD pair on May 11th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD made a pullback yesterday on the lower band of its bearish channel (purple lines).
The pair has validated the breakout of 1.2950 and is currently testing the next support at 1.29.
All indicators are bearish.
We continue to advise short positons as far as 1.3050 is resistance.
The breakout of 1.29 and 1.2850 will both give a new sell signal.
In case of return above 1.3050, we will wait the breakout of 1.31 to advise long positions.
See the previous analysis of the EUR/USD pair of May 10th, 2012
EUR/USD Analysis
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Technical analysis of the XAU/USD (Gold) pair on May 10th, 2012
Commentary of the XAU/USD (Gold) pair:
The pair XAU/USD has validated yesterday the breakout of 1600 points, offering a new sell signal.
Then, the pair found support on 1580 points and also on the lower band of its medium term bearish channel (purple lines).
All indicators are bearish.
We maintain to trade only short positions as far as 1620 points is resistance.
The breakout of 1580 will both a new sell signal and open the way towards 1550 points.
In case of return above 1620 points, we will wait the breakout of 1640 to advise long positions.
See the previous analysis of the XAU/USD pair of May 9th, 2012
XAU/USD Analysis
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Technical analysis of the AUD/USD parity on May 10th, 2012
Commentary of the AUD/USD parity:
The pair AUD/USD found support yesterday on 1.0050 and just made a pullback on the upper band of its bearish channel (purple lines).
The pair is currently trying to make a return above 1.01.
All indicators are still bearish.
We continue to advise short positions as far as 1.0150 is resistance.
A return below 1.01 will comfort our bearish feeling.
The breakout of 1.0050 will give a new sell signal and open the way towards 1.0.
In case of return above 1.0150, we will wait the breakout of 1.02 to advise long positons.
See the previous analysis of the AUD/USD parity of May 9th, 2012
AUD/USD Analysis
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Technical analysis of the EUR/CHF pair on May 10th, 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 May 9th, 2012
EUR/CHF Analysis
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Technical analysis of the EUR/JPY pair on May 10th, 2012
Commentary of the EUR/JPY pair :
The pair EUR/JPY has validated yesterday the breakout of 103.50, offering a new sell signal.
The pair just found support on 103 and is currently trying to rebound.
All indicators are bearish.
The pair is still moving below a bearish slant (purple line).
We continue to advise short positions as far as 104 is resistance.
The breakout of 103 will give a new sell signal and open the way towards 102.
In case of return above 104, we will wait the breakout of 104.50 to advise long positions.
See the previous analysis of the EUR/JPY pair of May 9th, 2012
EUR/JPY Analysis
Title:
Technical analysis of the EUR/USD pair on May 10th, 2012
Commentary of the EUR/USD pair :
The pair EUR/USD is currently testing the support at 1.2950.
The pair is moving below the lower band of its bearish channel (purple lines).
All indicators are bearish.
We continue to advise short positons as far as 1.3070 is resistance.
The breakout of 1.2950 and 1.29 will both give a new sell signal.
In case of return above 1.3070, we will wait the breakout of 1.31 to advise long positions.
See the previous analysis of the EUR/USD pair of May 9th, 2012
EUR/USD Analysis
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Technical analysis of the USD/JPY pair on May 10th, 2012
Commentary of the USD/JPY pair :
The pair USD/JPY continues to test the support at 79.64.
All indicators are bearish.
The pair continues to move into its bearish channel (black lines).
We continue to advise short positions as far as 80.41 is resistance.
The breakout of 79.64 will give a new sell signal and open the way towards 79.
In case of return above 80.41, we will wait the breakout of 81 to advise long positions.
See the previous analysis of the USD/JPY pair of May 9th, 2012
USD/JPY Analysis
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Dukascopy Afternoon Forex Overview : 04/09/2012
Dukascopy Fundamental Analysis
EUR
European stocks dropped for a second day, to the lowest level in almost four months, as investors awaited a resolution to the political impasse in Greece and as Spanish credit risk surged. The Stoxx Europe 600 Index (SXXP) lost 1.1 percent to 247.75 at 2:15 p.m. in London, the lowest since Jan. 13, as the euro weakened for an eighth day. The Stoxx 600 has tumbled 9 percent from this year’s high on March 16, trimming this year’s advance to 1.3 percent.
USD
U.S. stock futures retreated, indicating the Dow Jones Industrial Average will drop for a sixth straight day, as Greece’s political impasse intensified concern about a worsening of the European sovereign-debt crisis.
GBP
U.K. retail sales fell the most in more than a year last month as poor weather ...
Title:
EUR/USD Testing Key Support
Sunrise Market Commentary
- Fixed Income: new contract highs
- London-traders returned and the market seemed to react with a lag to this weekend's election results. In a risk off session, both the German Bund Future and the US Note Future set new contract highs, respectively at 142.62 and 133-04.
- Currencies EUR/USD testing key support
- On Tuesday, sentiment on the euro remained fragile even as there was little news from the political scene in France or Greece. EUR/USD is again testing the key 1.2974/55 support area. A break below this level would be highly significant from a technical point of view.
The Sunrise Headlines
- US Equities dropped sharply lower yesterday, but reversed most of their losses in the final hours of trading. The S&P ended the session 0.43% lower. ...
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