EUR/JPY- Breaking support at 129.67

EUR/USD

Pushing lower.

• EUR/USD is trading sideways around 1.1000. Hourly support at 1.0796 (07/12/2015 low) has been broken as expected. Stronger support lies at 1.0524 (03/12/2015 low). Hourly resistance may be found at 1.1096 (28/10/2015 low). Expected to further decline.

• In the longer term, the technical structure favours a bearish bias as long as resistance holds. Key resistance is located region at 1.1453 (range high) and 1.1640 (11/11/2005 low) is likely to cap any price appreciation. The current technical deteriorations favours a gradual decline towards the support at 1.0504 (21/03/2003 low).

GBP/USD

Weakening.

• GBP/USD is heading lower. Hourly support at 1.4694 (04/01/2015 low) has been broken. Hourly resistance is given at 1.5242 (13/12/2015 high). Stronger resistance can be found at 1.5336 (19/11/2015 high). Expected to further decline.

• The long-term technical pattern is negative and favours a further decline towards the key support at 1.5089 , as long as prices remain below the resistance at 1.5340/64 (04/11/2015 low see also the 200 day moving average). However, the general oversold conditions and the recent pick-up in buying interest pave the way for a rebound.

USD/JPY

Holding below 120.00.

• USD/JPY selling pressure continues. Shortterm technical structure suggests a stronger downside momentum. Hourly support can be found at 118.07 (15/10/2015 low). Hourly resistance lies at 123.76(18/11/2015 high). Expected to further decline towards hourly support at 118.07.

• A long-term bullish bias is favored as long as the strong support at 115.57 (16/12/2014 low) holds. A gradual rise towards the major resistance at 135.15 (01/02/2002 high) is favored. A key support can be found at 116.18 (24/08/2015 low).

USD/CHF

Rising.

• USD/CHF's uptrend momentum is still lively. Support is located at 0.9876 (14/12/2015 low). Hourly resistance can be found at 1.0034 (04/12/2015 high). The short-term technical structure shows an upside move. Expected to further increase.

• In the long-term, the pair has broken resistance at 0.9448 and key resistance at 0.9957 suggesting further uptrend. Key support can be found 0.8986 (30/01/2015 low). As long as these levels hold, a long term bullish bias is favoured.

USD/CAD

Trading sideways.

• USD/CAD is currently consolidating after failing to clear 1.4000 handle. Support is located at 1.3803 (25/12/2015 low) which break would trigger a sharp move to key support stands at 1.3225 (12/11/2015 low). Hourly (and long-term) resistance holds at 1.4001. Expected to keep going this consolidating phase.

• In the longer term, the break of the key resistance at 1.3065 (13/03/2009 high) has indicated increasing buying pressures, which favours further medium-term strengthening. Strong resistance is given at 1.4002 (18/05/2004). Support can be found at 1.2832 (15/10/2015 low) then 1.1731 (06/01/2015 low).

AUD/USD

Bullish move.

• AUD/USD is moving higher. Hourly support can be found at 0.7097 (17/12/2015 low). Hourly resistance is given at 0.7328 (31/12/2015 high). The technical structure through the symmetrical triangle (higher lows) suggests a medium-term upside momentum.

• In the long-term, we are waiting for further signs that the current downtrend is ending. Key supports stand at 0.6009 (31/10/2008 low) . A break of the key resistance at 0.8295 (15/01/2015 high) is needed to invalidate our long-term bearish view. In addition, we still note that the pair remains well below the 200-dma which confirms selling pressures.

EUR/CHF

Moving sideways.

• EUR/CHF is heading lower. Hourly support lies at 1.0733 (28/08/2015 low) and hourly resistance can be found at 1.0956 (29/09/2015 high). Expected to show further decline around 1.0800.

• In the longer term, the technical structure remains negative as long as prices remain below the resistance at 1.1002 (02/09/2011 low). The ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at 1.0184 (28/01/2015 low) and 1.0082 (27/01/2015 low).

EUR/JPY

Breaking support at 129.67.

• EUR/JPY keeps on declining. Hourly resistance lies at 134.60 (04/12/2015 high). Stronger resistance is located at 137.45 (17/09/2015 high). Hourly support at 129.67 (27/11/2015 low) has been broken. The technical structure suggests a further bounce back.

• In the longer term, the break of the support at 130.15 validates a medium-term succession of lower highs and lower lows. As a result, the resistance at 149.78 (08/12/2014 high) has likely marked the end of the rise that started in July 2012. Key supports stand at 124.97 (13/06/2013 low) and 118.73 (25/02/2013 low). A key resistance can be found at 141.06 (04/06/2015 high).

EUR/GBP

Consolidating.

• EUR/GBP's bullish momentum has faded. Hourly resistance lies at 0.7424 (intraday high) and hourly support is given at 0.7350 (25/12/2015 low). Expected to further increase.

• In the long-term, prices are in an underlying declining trend. The general oversold conditions suggest a limited medium-term downside potential. A key resistance lies at 0.7592 (03/02/2015 high).

GOLD (in USD)

Direction-less.

• Gold is now trading sideways. The metal is trading between 1050 and 1080. Strong support area is given by the hourly support at 1046 (03/12/2015 low) and by key support at 1044 (05/02/2015 low). Hourly resistance is given at 1098 (16/11/2015 high). Yet, there is still no sign that the metal is entering a growing phase.

• In the long-term, the underlying downtrend (see declining channel) continues to favour a bearish bias. A break of the resistance at 1223 is needed to suggest something more than a temporary rebound. A major support can be found at 1045 (05/02/2010 low).

SILVER (in USD)

Short-term bullish.

• Silver is moving higher with slight buying interest. Strong support lies at 13.51 (19/08/2009 low). Hourly resistance at 14.64 is approaching but still seems far. Yet, the overall technical structure (high volatility) suggests to see back further weakness toward hourly support at 13.64 (14/12/2015 low).

• 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. Strong support can be found at 11.75 (20/04/2009). A key resistance stands at 18.89 (16/09/2014 high).

Crude Oil (in USD)

Consolidating.

• Crude oil is now consolidating. Hourly resistance at 37.88 (15/12/2015 high) has been broken. While the medium-term technical structure remains clearly negative in a context of oil oversupply, there is a short-term bullish increase. Yet, oil is expected to show continued weakness as we see this consolidation as temporary.

• In the long-term, crude oil has not shown signs of recovery. Strong support lies at 37.75 (24/08/2015) has been broken and 32.40 (18/08/2015 low) is now on target. Nonetheless, crude oil is holding way below its 200-Day Moving Average (setting up at 50). An very unlikely break of the resistance at 60.72 (05/07/2015) would confirm an underlying uptrend.

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