The Philadelphia Fed Manufacturing Survey helped lift the greenback against a number of currencies in today’s US trading session. Read more >>
The AUD/USD pair closed yesterday's session weakly partially due to the strong greenback. Meanwhile, BoC Governor Poloz’ statement, coupled with a strong greenback drove the USD/CAD pair to levels not seen in more than three years. Read more >>
The United States released a series of mixed data in today's trading, which included the PPI for September, S&P/Case-Shiller Home Price Indices for August, and Consumer Confidence for October. Read more >>
The EUR/USD, AUD/USD, and the GBP/USD have been on a good start today, while the USD/CAD has seen a steady drop in today's session. Read more >>
The USD rallied against several currencies after the Federal Reserve maintained its rates at 0.25%. Read more >>
So it’s 2012 and a new year but it also feels a lot like late 2008 déjà vu! The markets were hanging on every word out of the multiple meetings in Europe in the lead up to Christmas hoping for some sort of resolution Read more >>
USD/CAD continues to sit above the 1.03 level, an area that we feel is the demarcation area for the next rally. USD/CHF continued to drift around on Monday, but the 0.93 level does look constructive at this point in time. The market looks like it wants to grind higher - not run. Parity still is our opinion. Play video >>
EUR/USD formed a hammer by the end of the week, with many traders celebrating some of the successes coming out of the EU in reference to resolving the debt issues there. The pair does look to have a limited upside though. USD/CAD formed a shooting star for the week, but is sitting just above the parity level - an area that has been very supportive as of late. Again - limited moves more than likely, especially with oil getting so close to $100. AUD/USD looks very much like EUR/USD. Our prognosis? Choppy news driven trading for the week. Again. Play video >>
The USD/CAD pair rose during the Wednesday session as traders sold off risk assets around the globe. The USD/JPY pair rose during the session, even though the "risk off" trade was in vogue. Quite frankly, the Dollar was bought against almost everything. Play video >>
The USD/CAD pair fell again on the Tuesday session as traders continue to step in and buy oil. The USD/CHF pair fell on the session as the officials of the Swiss National Bank, namely Mr. Jordan, cannot simply keep their collective foots out of their mouths. Play video >>
USD/CAD had a bearish session on Monday as traders piled into the oil markets. USD/CHF had a bullish day as SNB member Jordan came out and said that the SNB was willing to do “whatever it takes” to keep the value of the Franc down. This wasn’t anything new, so the knee-jerk reaction is probably short-lived. Play video >>
NZD/USD fell back below the 0.8000 level over the past week, but did print a hammer on the Friday close. USD/CAD busted back through the parity level, and looks like it wants to challenge the 1.02-1.03 levels. EUR/USD had a bearish week as well. Play video >>
USD/CAD found itself falling during the Thursday session as the "risk on" trade was on again. AUD/USD had a bullish day as traders celebrated the latest good fortune out of the EU. Play video >>
USD/JPY has fallen yet again, and looks set to test the 75 handle before it is all said and done. USD/CAD has broken below parity during the week, and found a spot at 0.99 in which to rest. GBP/USD busted through the 1.60 level this past week, and looks set to try and regain 1.65 or so. Play video >>
The USD/CAD pair had a wild day on Tuesday as the Bank of Canada not only held interest rates steady. USD/JPY fell during the Tuesday session, but bounced during the later hours. With the threat of the Bank of Japan intervention, this pair seems to have a tough time getting below the 76 handle for any length of time. Play video >>
EUR/USD had a bullish week as the trading world sold off the USD in favor of the common currency. The weekend has yet another EU summit, and it appears that traders are trying to get into the market ahead of that. In other words - gambling. The 1.40 area looks very resistive, so we are not convinced as of yet. The AUD/USD pair looks very similar to the EUR/USD and the "risk on" play seems to be in order. However, just like the EUR/USD, there is a massive resistance area just above in the form of the 1.03 to 1.05 area. The USD/CAD pair looks set to retest the parity level again, and the weekly candle looks very bearish. However, the oil markets look set to pullback, and this could make this pair bounce in this vicinity. Play video >>
The GBP/USD pair fell on Thursday, and even went below the 1.57 level for a time. The USD/CAD pair rose, and then fell on Thursday - forming a shooting star at the bottom of the recent run. Play video >>
USD/CAD fell on Monday as traders bought the oil markets. The falling of this pair isn't a big surprise because of this, and to think that the pair would do any different would be difficult. However, we think that the 1.02 - 1.03 level should continue to be supportive and are willing to buy supportive candles. GBP/USD rose as well, but fell short of breaking out of its consolidation area, marked by the 1.57 level on the top. The breaking of this area would be bullish - but the 1.59 - 1.60 area should be resistive as well. Because of this, we are selling rallies. Play video >>
USD/CAD fell hard during the week, but had a massively bullish candle on Friday. The pair moved higher, and is now above the 0.98 level, signalling a return to the consolidation area. The 0.99 area is massive resistance, and parity even more so. The pair can't be bough until we get above that parity level. The pair is a massive sell if we get below the hammer on Friday. USD/CHF formed a massive hammer on Friday, and looks like it is ready to bounce from this level. However, the weekly trend line and the 0.83 resistance area should keep a bit of a lid on the price. If we can get above the 0.83 level - this could be the start of something special to the upside. A breaking of the lows on Friday would send this pair much lower. Play video >>
USD/CHF has broken hard to the downside over the last couple of sessions, and even failed at a downtrend line on the weekly chart. The support level between 0.79 and 0.80 has to be broken to the downside to get in a selling position in this pair. Buying isn't possible until we clear 0.83 on a daily close. USD/CAD fell again on Thursday, but didn't manage to break the low on Wednesday's hammer. This shows that perhaps we are starting to see a supportive area in the neighborhood, and we are waiting until we see 0.97 give way in order to short. We don't buy until we get above the 1.0000 level. Play video >>
USD/CAD rose above the 0.98 level on Tuesday, but fell later in the day to form a shooting star-like candle. This shows just how weak the bulls are, and coincides with the oil markets that are all either on the way to breaking out to the upside, or already have in the case of a few of them. The USD/CHF pair ran to the weekly trend line, but failed. However, there is a resistance area just above this line as well that we are watching. The action isn't convincing either way at the moment, so we can only go by breakout points in this pair. A daily close above 0.83 could lead to something special on the upside in this pair. A breaking of 0.8000 is needed to start selling again. Play video >>
USD/JPY sits still yet again as the Bank of Japan keeps threatening the market as the Yen rises in value. Because of this, we don't like selling this pair.....but nobody wants to buy. We will be watching the longer-term charts such as the weekly or monthly to get our signal now. The USD/CAD pair fell below the all-important 0.98 support level on Monday, and appears that it is ready to fall. This makes sense as the Light Sweet Crude markets rose over $2, and this creates demand for the Canadian dollar. We are sellers, and especially so if the Monday lows. Play video >>
The EUR/USD chart shows us that the 1.45 area is being tested yet again, this massive resistance area simply must give way for this pair to continue northward. We believe that the pair is trying to tell us this will happen. The AUD/USD pair looks very similar at the moment, but the 1.06 area needs to be broken. With a shooting star about to give way - this pair looks very bullish. However, 1.06 is still there.... The USD/CAD pair is still stuck, but we show you what levels need to be broken, and they aren't even Forex rates! Play video >>
USD/CAD fell, and then formed a hammer from the 0.98 support level on Thursday. The candle is very bullish, and suggests that the market may not be expecting Bernanke to announce any QE3-like measures today. With the recent consolidation, we have two very clear levels - 0.98 and parity. If we can break either, that would show us the way. The USD/CHF pair has been stuck at this level (0.8000) for quite some time. With the Jackson Hole announcement coming out later, we may finally get some kind of direction. If QE3 is announced, this pair will fall as the SNB gets overwhelmed. Play video >>
The USD/JPY pair has formed a hammer on the weekly time frame as traders pushed the pair down through the 76 handle, only to back away in the end. With the Bank of Japan looking like they are ready to intervene, this is probably wise. If we can get above 77.50 - we would actually buy it. The USD/CHF pair managed to break the top of the previous week's hammer, but then just simply sat there. This shows 0.8000 to be massive resistance, and as a result could lead to more weakness when the eventual move does happen. The USD/CAD pair had a wild week, and simply seems to be a slave to the whims of the oil markets. We are watching parity and 0.98 for our next move. We think that if oil (CL) gives up the 80 USD mark to the downside, parity will be hopped over in this pair. Alternately, if the $90 mark gets broken to the upside in CL, this pair runs back towards the 0.9450 area. Play video >>
The USD/CHF pair has formed yet another tight-ranged candle on Thursday, as the 0.8000 level seems to be a bit of a cap on the SNB related bounce from the last week or so. The area is a massive psychologically important level, and as such we will see major things being decided here. The outlook for this pair is simple: wait for the large candle on the daily chart - and you will know the future direction of the pair for at least the next several handles. USD/CAD found itself rising during the session as the oil markets sold off in a harsh manner. The oil markets falling often reduce desire to own the CAD, and this chart shows that in spades. The oil markets simply must hold above the $80 mark if we are to see the downtrend continue. A break below the level could send this pair far above parity. Play video >>
The USD/CAD fell hard on Monday as the oil market rose. This pushes demand for the Loonie, and as such pushes this pair lower. The 0.98 mark is where we stopped, and it looks like an area that could give us some issues. However, the trend is down, and we like going with the trend. If this area gives way, we go much lower. Look to the $90 mark in the CL contract as your guide. The USD/CHF pair rose again as traders ran from the talk of a currency peg out of the Swiss National Bank. The 1.15 area proved too strong on Monday, and we formed a shooting star. If we break the lows of that candle form Monday, we go down to 1.10 and possibly lower. If we break the highs - we search for 1.18 and then 1.20 as well. Play video >>
The USD/CHF barely moved on Wednesday, which we found odd as the stock markets melted down. This is out of character as a lot of the times traders will sell this pair when times are getting tough. Because of this, we feel that perhaps there is a bounce coming in this pair. We won't buy it - we will allow the pair to rise to perhaps the 0.75 level so we can sell at higher levels. A break to new lows gets us selling as well. The USD/CAD pair rose on Wednesday as the trading world sold of riskier assets. This directly effects the Loonie, and as such we went higher. The pair is already falling in early Thursday morning trading and as such we expect consolidation in this pair for a few days between the 0.99 and 0.98 areas. Until we breka above parity on a daily close - we are net sellers of this pair. Play video >>
USD/JPY fell on Tuesday again, but is at the 77 level - the same level that the Bank of Japan intervened at the other night. Because of this, traders around the world are being very tentative about shorting this pair. The trend is certainly down, and as such - this pair can't bounce it seems. Because of this, we see this as a "dead pair" for a while. USD/CAD rose to parity as traders around the world panicked during the Asian session on Tuesday. However, the markets calmed down, and the oil markets rebounded. Because of this, the CAD got a bid, falling 200 pips. This pair looks weak again, but the 0.98 level might be a potential area of support that the market will have to overcome before pushing back down to the 0.9450 area. Play video >>
The long-term charts are showing us several different things presently.... The EUR/USD almost looks like it is in a bullish flag pattern, even with all of the EU troubles in the debt markets. The potential S&P downgrade of the US might be a factor in this move, but we are still waiting to see a break of the 1.45 area to go long. If we get below 1.40 - we sell. In the meantime, we are looking for choppy short-term moves at best. The EUR/CHF continues to fall, and has broken the 1.10 area as investors keep sending their money into Switzerland, and leaving Europe. The pair shows that the EUR isn't necessarily strong, (despite the EUR/USD chart) and that perhaps it is the USD that is so weak. The USD/CAD pair skyrocketed during the week, and it appears that we will attempt a break out of the 0.98 level, but this pair is certainly in a downtrend. We see nothing to suggest that the trend will change anytime soon. Play video >>
The USD/JPY pair had a wild day during the Monday session as traders are trying to figure out the debt limit issues in the US. A deal looks to have been reached, but we have not voted on it yet. A break either side of the long volatile doggie bar will help identify which side to trade, but be careful going long on this pair as Japanese intervention might make it difficult for the pair to fall considerably. The USD/CAD pair continues to bounce from the 0.9450 area, which is probably unsurprising to many as the oil markets have been so wild. The pair looks like a great sell - but from higher levels such as the 0.97 and 0.98 handles. Play video >>
USD/JPY looks weak, but you can have it! We see that we are approaching areas that triggered intervention previously. USD/CAD looks weak as well, but the 0.9450 area looks like it is going to produce a bounce, which we are not willing to buy, but are willing to sell at higher levels. Play video >>
The USD/JPY continues to be a scalper's pair....The USD/CAD is being held hostage by the oil markets Play video >>
The USD/CAD fell hard on Tuesday, but still remains hostage to the oil markets....The USD/CHF fell, and is in trend. Play video >>
The USD/CAD pair has been trying to punch through the 0.9850 area for days. It has done it, and then failed every time. Because of this, it looks as if the pair cannot move until oil does it's thing. Rangebound might be the order of the day for a while. Play video >>
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