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 fell for the session, breaking the recent lows during the Wednesday session. However, we still feel there is a chance for support until the 0.98 level gets broken to the downside. A daily close sub-0.98 is a great sell signal. If not, we consolidate further. It should be noted the last high isn't as high as the previous ones. GBP/USD fell and then formed a hammer for the Wednesday session. Pretty impressive considering the UK officially entered a recession during the same day. Oh, and we are at the highs......not bad at all. Play video >>
EUR/USD had a bullish day on Tuesday, but gave back quite a bit of the gains for the session. The pair continues to chop around, and the Federal Reserve's press conference later today could finally see some fluid movement in this market. The USD/JPY pair fell early, but bounced in order to form a hammer. The downtrend channel is being threatened, and looks very vulnerable. With the Fed and the BoJ both having meetings this week, we expect a move soon. Play video >>
USD/CAD fell for much of the session on Tuesday as the market continues to grind away in the current consolidation area. However, today's FMOC announcement and news conference could have a market moving effect on this pair, and as a result we think that waiting until after it is over is the way to go. Areas to watch will be the 0.98 handle and the 1.01 level. GBP/USD had a reasonably strong day, and with any kind of "risk on" movement - this pair continues much higher. The pair is in fact a "buy on the dips" one unless we broke below the 1.59 level. Play video >>
USD/CAD fell after first rising during the session on Monday. The parity level above has been very resistant, and the 200 day EMA above will continue to pressure the pair lower. However, the range between 1.01 and 0.98 is still holding, and until then - we only see scalps. USD/JPY fell on Monday, but the overall picture still looks like a pair that has broken out. The 200 day EMA is below, the 80 handle is as well, and the 50% too. The 81 handle looks as if it caused a bounce, and we expect the Bank of Japan to crank up their asset purchase program this week - another form of easing. With this in mind, we see the pair going higher over time, and are buying dips. Play video >>
EUR/USD had a weak session on Monday as the world continues to worry about the EU in general. However, the Americans stepped in and bought the Euro later in the day to recoup some of the losses. With this being said, the pair looks weak overall, and it appears we could be forming a descending triangle as well. The GBP/USD pair originally fell for the Monday session, but bounced again to form a hammer at the top of the latest move. The candle can now be a hammer - or a hanging man. Tuesday could be important. Play video >>
EUR/USD had a strong day on Friday as the "risk on" trade is back. However, we think that the upside is limited because the situation in Europe is hardly stable. The pair will be effected by the FMOC minutes on Wednesday as well, so the action ahead could be sloppy. Also, there is that bit about a French Presidential election... The EUR/CHF continues to sit just above the 1.20 level, and as a result it can't go anywhere. The EU has to get it's act together for people to take the upside seriously. We believe that the pair will need to break below the 1.20 level in order to trigger intervention to move this pair. Dead money is a phrase that comes to mind. However, if you are patient enough, it does pay a positive swap. Play video >>
GBP/USD saw more bullish action on Friday as the Pound continues to gain against almost all other currencies. The 1.6050 level has given way, and now we look very constructive. However, the recent action looks a bit over extended, and as a result we are looking for pullback to buy. The GBP/JPY shot straight up for the Friday session as well.The pair now sits well above the 131 level, and we are looking at this pair the same way we are the cable - buying Pounds on the dips as the BoE is worried about inflation while the BoJ is printing Yen. Play video >>
EUR/USD managed to slam straight up for most of the session, and is now challenging the tops of the previous week....the pair should sell off soon if the recent pattern continues. We like fading rallies still. The USD/CAD pair continues to bounce around between the 1.01 and 0.9850 levels. The breaking of one of these two areas is vital for any decent long-term trades - but one cannot argue with the idea that this is the best scalper's market at the moment. The USD/JPY had a strong week as the 50% Fibonacci level has held. As long as we are over the 80 handle, there is no real reason to sell. The Bank of Japan will continue to ease, and should announce new efforts this coming week. We are buying. GBP/USD broke out this week, and looks like it is off to the races. It is sitting at minor resistance at the moment, but the reality is that the Bank of England isn't looking to ease anymore, and this is a signal that higher rates are coming to the UK well before many other central banks. We buy dips going forward as long as we can stay above the 1.59 mark. Play video >>
USD/JPY had another bullish session as we continue to bounce from the 50% Fibonacci retrace area, as well as the 80 zone. The pair looks as if it is ready to continue higher, and as long as we are above the 80 handle - we are long. The GBP/USD is in the middle of breaking out, and the pair looks as if it is ready to continue. The Pound looks strong overall, and the Bank of England has squashed any ideas of further easing. This should continue to push the pound higher overall, including in this pair. Play video >>
USD/CAD rose for the session on Thursday as the oil markets ended the day a bit on the soft side. In reality, this is just more of the same, and is simply consolidation. None the less, there are pips to be had by the most obvious trade in Forex right now. EUR/USD had a strange day. In the end, we didn't really go anywhere. Perhaps this is because the Spanish managed to sell their bonds, (albeit at a higher than expected rate) and this provided some sense of stability. However, the market simply couldn't find its way in either direction. Because of this, we expect more chop-chop today. Play video >>
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