July 23rd Long-Term Charts

FX Strategy Video > Currency Pairs Analysis

EUR/USD originally had a very positive week, but in the end - Friday saw it coming apart when the Spanish state of Valencia admitted that a bailout is going to be necessary. Looking at this pair, it looks like the 1.20 level is in sight now.

The GBP/USD pair did much the same, but now has formed a strong reversal candle as well. The pair looks weak at this point, but the downside is probably going to be somewhat limited by the 1.5250 support level from the previous consolidation.

The USD/CHF pair is currently running towards the 99 handle - and the 61.8% Fibonacci retracement as well. The pair looks like parity is in the cards - if it can get past the cluster just above.

The USD/JPY pair continued to fall this past week, but is now approaching areas that should see significant support. With the Bank of Japan being so protective of this pair, are we getting closer to intervention?

Published on 22nd of July 2012
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