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DIRECTION
TIMEFRAME S-TERM S-TERM S-TERM S-TERM S-TERM M-TERM S-TERM S-TERM M-TERM S-TERM S-TERM S-TERM
STRATEGY / POSITION
ENTRY LEVELS
OBJECTIVE / COMMENTS Await fresh signal. Await fresh signal. Await fresh signal. Await fresh signal. Await fresh signal. Await fresh signal.
STOP
ENTERED
EUR / USD GBP / USD USD / JPY USD / CHF USD / CAD AUD / USD GBP / JPY EUR / JPY EUR / GBP EUR / CHF GOLD (in USD) SILVER (in USD)
Long 2
172.03
Sell 1 unit at 174.49, remaining at 179.85 Await fresh signal. Await fresh signal.
170.95
06/03/2014
Long 3 units
1.2329
1.1998
23/01/2013
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EUR / USD
GBP / USD
Weakening.
GBP/USD weakened yesterday, confirming persisting selling pressures. An hourly support lies at 1.6617, while a key support stands at 1.6584. An hourly resistance now stands at 1.6686 (previous support). A break of the key resistance at 1.6823 is needed to resume the underlying uptrend. In the longer term, the technical structure favours a bullish bias as long as the support at 1.6220 (17/12/2013 low) holds. The decisive break of the resistance at 1.6668 opens the way for a move towards the major resistance at 1.7043 (05/08/2009 high). However, a sustainable move above that level is unlikely in the next few weeks.
USD / JPY
USD/JPY is likely digesting its recent sharp rise. An hourly resistance lies at 103.76, whereas an hourly support can be found at 102.61. A further medium-term rise towards the resistance at 104.92 (16/01/2014 high) is favoured. A long-term bullish bias is favoured as long as the key support area given by the 200 day moving average (around 100.26) and 99.57 (see also the rising trendline from the 93.79 low (13/06/2013)) holds. A major resistance stands at 110.66 (15/08/2008 high).
USD / CHF
Trying to bounce.
USD/CHF is trying to bounce. However, the short-term technical structure is negative as long as prices remain below the resistance at 0.8816 (07/03/2014 high). Another resistance stands at 0.8896 (05/03/2014 high, see also the declining trendline). An hourly support now lies at 0.8757. From a longer term perspective, the structure present since 0.9972 (24/07/2012) is seen as a large corrective phase. However, the break of the key support at 0.8800 (27/12/2013 low) opens the way for a further decline towards the next key support at 0.8568 (27/10/2011 low).
USD / CAD
USD/CAD is likely moving within a symmetrical triangle, favouring a continuation of the underlying uptrend. Hourly supports stand at 1.1071 and 1.1046 (06/03/2014 high). Hourly resistances can be found at 1.1160 (27/02/2014 high) and 1.1194 (21/02/2014 high). In the longer term, the decisive break of the major resistance at 1.0870 validates a multi-year basing formation whose minimum upside potential is around 1.1910. A first resistance is given by the 50% retracement of the decline from the September 2009 peak at 1.3065 (around 1.1236). A key support stands at 1.0911 (19/02/2014 low).
AUD / USD
AUD/USD suffered a bout of selling pressure near the key resistance area between 0.9086 and 0.9168. The hourly support at 0.9007 (intraday low) has held thus far. An initial resistance can be found at 0.9073 (intraday high). Another support lies at 0.8891. In the medium-term, a decisive break above the resistance at 0.9086 would validate a bullish head and shoulders formation. The upside potential is given by 0.9312. The long-term technical pattern remains negative as long as prices are below the resistance at 0.9168 (02/12/2013 high, see also the 200 day moving average).
GBP / JPY
GBP/JPY has thus far failed to break the resistance at 173.66. The hourly support at 171.67 has been breached. Another support lies at 170.99. As long as this level holds, we favour a second medium-term leg higher towards the key resistance at 174.85. The break of the major resistance at 163.09 calls for further long-term strength towards the resistance at 179.17 (15/08/2002 low). The longterm technical structure remains supportive as long as the key low at 160.41 (19/11/2013 low) holds.
Long 2 at 172.03, Obj: Sell 1 unit at 174.49, remaining at 179.85, Stop: 170.95 (Entered: 2014-03-06)
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EUR / JPY
Pausing.
EUR/JPY is pausing after its bullish breakout of the key resistance at 143.17. An hourly support can be found at 142.44. Another support is at 141.26 (previous resistance), whereas another resistance lies at 145.17. The long-term technical structure remains positive as long as the support at 134.11 (20/11/2013 low, see also the 200 day moving average) holds. Resistances can be found at 147.04 (16/09/2008 low) and 157.00 (08/09/2008 high).
EUR / GBP
EUR / CHF
Moving sideways.
Gold prices are overextended and close to the key resistance at 1362, calling for short-term caution. However, the hourly support at 1331 (see also the short-term rising trendline) has held thus far. An hourly resistance stands at 1355. A key support lies at 1307 (20/02/2014 low). Longer term, the successful test of the key support at 1181 coupled with the break of the resistance implied by the 200 day moving average are positive. However, we are skeptical of a long-term bullish reversal pattern. As a result, we remain cautious given the current overextended rise.