Visit us daily for various Currency Analysis videos created by our Forex Traders. Each trading day there will be two different videos that will assist you in making your decisions.
USD/CAD shot straight up during the Wednesday session as the oil markets crashed. The $90 level finally gave way in the Light Sweet Crude markets, and this hit the CAD hard. However, the 1.03 level still holds as resistance - so far. The AUD/USD pair is sitting on the 0.97 level, and looks absolutely horrible. If this level gives way, we could see a free fall in the right conditions. The Aussies have the extreme misfortune of being in a world with the rest of us. Play video >>
EUR/USD came undone on the Wednesday session as the 1.25 level finally gave way. The pair finally seems to be intent on punishing the leadership - or lack of - in Europe as price is heading down to the 1.21 level, perhaps quicker than many of you may think. GBP/USD broke the 1.5650 and 61.8% Fibonacci level on Wednesday, and even broke below the 1.55 level. This should signal much lower levels in this pair as the "risk off" trade continues. Play video >>
GBP/USD fell again for the session on Tuesday, and seriously attacked the 1.56 level. This area is vital for the bulls, and if it gives way - look out below. Because of this, we find this pair very interesting at the moment. With the UK's exposure to the European Union, the Pound could go down with the Euro. Speaking of the Euro, what a mess.....the 1.25 level was violated during the Tuesday session, and looks very, very vulnerable at the moment. Because of this, we are selling rallies and think this pair goes down to the 1.21 area in the near future. Play video >>
USD/CAD fell for the session on Tuesday as the 1.03 level is proving to be very stubborn. However, the recent price action essentially was begging for a pullback, and we think this is what is happening. The 1.01 level is the start of what we see as serious support. The USD/CHF pair is currently trying to break out above the 0.96 level, and the hammer from the Tuesday session looks like we are more than likely going higher. Because of this, we think that eventually we go to parity. Play video >>
USD/CAD fell during the session on Monday as the overextended nature of the rally demanded. Quite frankly, this pair had run straight into a brick wall of resistance at the 1.03 level. The oil markets need to give way in order for the rally to continue, and quite frankly - we expect that sooner or later. USD/JPY had a relatively quiet session on Monday, falling as well but bouncing at the end to form a hammer. This pair is currently in consolidation at this major junction, and we think a big move could be coming soon. The Friday Non-Farm Payroll numbers out of America should be pivotal in this market. Play video >>
GBP/USD looks sick to say the least. This market has sold off ruthlessly over the last several weeks, and the fact that the bulls couldn't bounce this pair any higher at this point suggests that we are about to see another leg down. The breaking of 1.5650 has us selling again. The EUR/USD pair looks very similar at the moment. The shooting star for the third day in a row is bad news for the bulls. A breaking below of the 1.25 handle on the daily close has us selling in an aggressive manner. Play video >>
The GBP/JPY pair rose above the hammer from the Thursday session, but failed to have any follow through. The 125 level looks like it will be one that is important long-term, so we are currently watching with great interest. The GBP/USD pair fell hard most of the week. The past two days have formed shooting stars, and the 61.8% Fibonacci level looks like it is trying to hold the pair up. The level is important for support, and if it gives way - look out below! Play video >>
USD/CAD had yet another bullish session on Friday, piercing the 1.03 level during the day. The pair is being helped by weakening oil prices and the fear trade. As soon as we close above the 1.03 level, we buy this pair for a much larger move. EUR/USD is sitting right on top of the 1.25 support level. If this level gives way - look out below. The headlines currently favor a further breakdown in this pair, and we are selling it when it comes. Rallies are to be faded as well. Play video >>
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. Play video >>
AUD/USD had a small rally for the Thursday session , but to be honest - if this is all it will get, this pair could be in trouble. The shooting star that formed for the session looks very weak, and a break below the 0.97 level sends this pair even lower. Rallies are to be sold as well. The EUR/USD looks very similar as the rally on Thursday failed. The 1.25 level is now clearly the "line in the sand" that the bulls are trying to make for this pair. Rallies will be sold, and a break of this area will be aggressively sold. Play video >>
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