GBP/JPY - Consolidating below the resistance at 184.19

EUR/USD

Weakening.

• EUR/USD has bounced near the support at 1.1262. However, the recent break of the hourly support at 1.1320 (16/02/2015 low) and the current lower high below the hourly resistance at 1.1450 suggest a weakening momentum. Another support stands at 1.1098, while another resistance can be found at 1.1534.

• In the longer term, the symmetrical triangle favours further weakness towards parity. As a result, any strength is likely to be temporary in nature. Key resistances stand at 1.1679 (21/01/2015 high) and 1.1871 (12/01/2015 high). Key supports can be found at 1.1000 (psychological support) and 1.0765 (03/09/2003 low).

Await fresh signal.

GBP/USD

Fading near the resistance at 1.5486.

• GBP/USD has thus far failed to break the resistance at 1.5486. However, the short-term technical structure remains positive as long as the hourly support at 1.5317 holds. Another hourly support can be found at 1.5197. A key resistance stands at 1.5620.

• In the longer term, the break of the key resistance at 1.5274 (06/01/2015 high) suggests renewed buying interest. Upside potentials are likely given by the resistances at 1.5620 (31/12/2014 high) and 1.5826 (27/11/2014 high). A strong support stands at 1.4814.

Await fresh signal.

USD/JPY

Stabilising above the support at 118.18.

• USD/JPY is moving sideways above the support at 118.18. A break of the hourly resistance area between 119.42 (17/02/2015 high) and 119.60 (61.8% retracement) would open the way for a new move towards the key resistance at 120.83. Another hourly support is given by the rising trendline (around 117.81).

• A long-term bullish bias is favoured as long as the key support 110.09 (01/10/2014 high) holds. Even if a medium-term consolidation is likely underway, there is no sign to suggest the end of the long-term bullish trend. A gradual rise towards the major resistance at 124.14 (22/06/2007 high) is favoured. A key support can be found at 115.57 (16/12/2014 low).

Await fresh signal.

USD/CHF

The resistance at 0.9554 has held thus far.

• USD/CHF weakened near the resistance at 0.9554 (16/12/2014 low) last Friday. An hourly support is given by the short-term rising trendline (around 0.9347). Another hourly support can be found at 0.9284 (16/02/2015 low).

• Following the removal of the EUR/CHF floor, a major top has been formed at 1.0240. The break of the resistance implied by the 61.8% retracement of the sell-off suggests a strong buying interest. Other key resistances stand at 0.9554 (16/12/2014 low) and 0.9831 (25/12/2014 low). A key support can be found at 0.9170 (30/01/2015 low).

Await fresh signal.

USD/CAD

Improving.

• USD/CAD is improving after its bounce near the key support area between 1.2352 (03/02/2015 low) and 1.2314. The hourly resistance at 1.2537 (13/02/2015 high) has been breached. Other resistances are given by the declining trendline (around 1.2603) and 1.2698. An hourly support lies at 1.2422 (20/02/2015 low).

• In the longer term, the technical structure looks like a rounding bottom whose maximum upside potential is given by the strong resistance at 1.3065 (09/03/2009 high). The recent weakness is seen as a medium-term corrective phase. Key supports stand at 1.2314 (22/01/2015 low) and 1.2047 (intraday low).

Await fresh signal.

AUD/USD

Fading near the key resistance at 0.7876.

• AUD/USD is weakening near the key resistance at 0.7876 (06/02/2015 high). A break of this level is needed to open the way for further strength. Hourly supports can be found at 0.7757 (19/02/2015 low, see also the short-term rising trendline) and 0.7724 (13/02/2015 low).

• In the long-term, there is no sign to suggest the end of the current downtrend. The break of the strong support area between 0.8067 (25/05/2010 low) and 0.7947 (61.8% retracement of the 2009-2011 rise) favours further weakness. A key support stands at 0.7451 (18/05/2009 low). A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view.

Await fresh signal.

GBP/JPY

Consolidating below the resistance at 184.19.

• GBP/JPY has broken the key resistance area between 180.28 and 180.94, validating a bullish reversal pattern with an upside potential at 184.70. However, monitor the consolidation between the support at 181.54 and the resistance at 184.19. Another support stands at 180.17 (09/02/2015 low).

• In the long-term, the lack of any medium-term bearish reversal pattern favours a bullish bias. A support is given by the 200-day moving average (around 176.30), while a strong support area lies between 169.51 (11/04/2014 low) and 167.78 (18/03/2014 low). A strong resistances stands at 190.00 (psychological threshold).

Await fresh signal.

EUR/JPY

Sharp bullish reversal near the support at 133.68.

• EUR/JPY has recently shown signs of a fading bullish momentum. However, Friday's large upper shadow near the support at 133.68 suggests a pickup in short-term buying interest. An hourly resistance can be found at 136.24 (17/02/2015 high), while a key resistance stands at 137.64. Hourly supports now lie at 133.55 (20/02/2015 low) and 132.00.

• In the longer term, the break of the strong support at 134.11 (20/11/2013 low) invalidates the long-term succession of higher lows. The resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. More sideways moves are now expected. A key support stands at 124.97 (13/06/2013 low), whereas a key resistance can be found at 141.72 (08/01/2015 high).

Await fresh signal.

EUR/GBP

Remains below its declining trendline.

• EUR/GBP has bounced near the hourly support at 0.7348 and has breached the hourly resistance at 0.7410 (19/02/2015 high). However, prices have failed to hold above the short-term declining trendline and the resistance at 0.7459 is intact.

• In the long-term, the break of the major support area between 0.7755 (23/07/2012 low) and 0.7694 (20/10/2008 low) confirms an underlying downtrend. Monitor the test of the support at 0.7392 (28/01/2008 low). Another support can be found at 0.7089 (03/12/2007 low). A key resistance now lies at 0.7875 (25/12/2014 high).

Short 1 unit at 0.7563, Obj: Close remaining at 0.7260, Stop: 0.7473 (Entered: 2015-02-03).

EUR/CHF

Fading short-term buying interest?

• EUR/CHF weakened on Friday. However, prices remain thus far in their short-term rising channel. An hourly resistance lies at 1.0812, while a key resistance stands at 1.1002 (02/09/2011 low). Hourly supports can now be found at 1.0666 (20/02/2015 low) and 1.0618 (intraday low).

• The EUR/CHF is again a free-floating currency and has declined to uncharted water. The break of the key resistance at 1.0600 indicates an improving buying interest. Another key resistance stands at 1.1002 (02/09/2011 low). However, the ECB's QE programme is likely to cause persistent selling pressures on EUR/CHF, which should weigh on EUR/CHF. A key support can be found at 1.0357 (30/01/2015 low).

Await fresh signal.

GOLD (in USD)

Drifting lower.

• Gold is making new lows, confirming an underlying bearish trend. An hourly resistance lies at 1223 (19/02/2015 high). However, as long as prices remain below the resistance at 1246 (10/02/2015 high), the technical structure favour a bearish bias. A support can be found at 1168 (02/01/2015 low).

• In the long-term, the break of strong resistance at 1255 (21/10/2014 high, see also the 200-day moving average) indicates an improving technical structure. However, the shape of this advance still looks like a countertrend move within an underlying downtrend (see declining channel). A key support stands at 1132 (07/11/2014 low).

Await fresh signal.

SILVER (in USD)

Moving lower.

• Silver has broken the key support at 16.55, confirming deteriorations in the technical structure. Hourly resistances are given by 16.80 and by the declining trendline (around 17.07). The hourly support at 16.20 has been breached, opening the way for a declining towards the key support at 15.53.

• In the long-term, the break of the major support area between 18.64 (30/05/2014 low) and 18.22 (28/06/2013 low) confirms an underlying downtrend. Although the strong support at 14.66 (05/02/2010 low) has held thus far, the lack of any base formation continues to favour a long-term bearish bias. A key resistance stands at 18.89 (16/09/2014 high).

Await fresh signal.