EUR/USD managed to slam straight up for most of the session, and is now challenging the tops of the previous week....the pair should sell off soon if the recent pattern continues. We like fading rallies still.
The USD/CAD pair continues to bounce around between the 1.01 and 0.9850 levels. The breaking of one of these two areas is vital for any decent long-term trades - but one cannot argue with the idea that this is the best scalper's market at the moment.
The USD/JPY had a strong week as the 50% Fibonacci level has held. As long as we are over the 80 handle, there is no real reason to sell. The Bank of Japan will continue to ease, and should announce new efforts this coming week. We are buying.
GBP/USD broke out this week, and looks like it is off to the races. It is sitting at minor resistance at the moment, but the reality is that the Bank of England isn't looking to ease anymore, and this is a signal that higher rates are coming to the UK well before many other central banks. We buy dips going forward as long as we can stay above the 1.59 mark.
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