EUR/USD saw another bearish week, but late in the week we saw a bounce in order to form a hammer. The market looks as if it is going to reenter more consolidation, and with it being summer and oversold, this isn't a surprise.
The USD/CAD pair looks weak, but the hammer from the previous week looks like we could have a fight on our hands. This entire market looks like it wants to attempt to breakdown, but even if it does - we still have the parity level to worry about.
The GBP/USD pair bounced hard on Friday, and the weekly hammer suggests that we are going higher, perhaps to the top of the recent consolidation area.
The USD/JPY pair still looks as if it is tightening up, but we have at least two very clear levels from which to buy.....and we won't sell it as the BoJ is working against that at the moment.
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