EUR/USD saw an initial rise this past week, but closed the week forming a shooting star at the bottom of the recent fall. In doing so, the downtrend channel appears to still be holding the market in check. Greece finally admitted default on Friday as well.
USD/CAD continues to be a great place to lose money in a choppy environment. There is almost no hope of this changing at the moment.
The USD/JPY pair has formed a second hammer in a row. It now appears that there is massive support at the 80 handle. The BoJ continues to expand its bond buyback program, effectively "printing" Yen.
The NZD/USD pair has formed a nice hammer, and looks set to reenter the previous consolidation range, and more than likely beyond.
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