May 28th Long-Term Charts

FX Strategy Video > Currency Pairs Analysis

EUR/USD closed at the very low end of the weekly candle, and the 1.25 level is now being threatened. With the Greeks not voting until June 17th, this pair will continue to be a "sell the rallies and breakdowns" type of market.

USD/CAD has found its footing, and is pressing the all-important 1.03 level. A breakout above this area would continue the move higher as the risk appetite around the world continues to crumble.

USD/JPY is hovering just below the 80 handle. The 61.8% Fibonacci level is holding so far, but looks vulnerable. We need to see a breakout above the 80.60 level in order to feel good about buying, but selling isn't going to happen - the Bank of Japan is below.

GBP/USD fell hard to find the 1.5650 level, which is also the 61.8% Fibonacci level. The headline risks out there have us selling rallies on weakness, and a break below this obvious support level.

Published on 26th of May 2012
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