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.
The CAD/JPY pair rose for much of the day, and even managed to break above a bit of a downtrend channel that has been pushing this pair lower lately. Too bad it couldn't hold it. However, the bearish set up looks like a return to consolidation - not a meltdown coming. The USD/CAD pair found itself bouncing for the session on Wednesday as the oil markets sold off. There was a build in the oil inventories numbers for the US, and as a result we were always going to see CAD weakness. Play video >>
EUR/USD had a fairly wild session on Wednesday as the fall in price that the Europeans and Asians put on this pair was reversed by the Americans once they came aboard. With the Spanish 2 and 10 year bonds being auctioned today - there is significant risk in this pair. The EUR/GBP pair broke through the 0.82 level as the Bank of England put to rest the idea of further easing. This caught the markets off guard a bit, and the Pound rose as a result. Play video >>
USD/JPY had a bullish session on Tuesday as the proximity of the 80 handle and 50% Fibonacci retrace level seems to have been enough to bring the bulls back out. The pair is starting to run into resistance at the 81 level though, so pullback are to be expected - and bought. GBP/USD had a fairly benign day once it was all said and done. It was positive, but hardly compelling. Because of this, it looks as if the pair will continue to languish between the 1.58 and 1.6050 levels. Play video >>
EUR/USD had a back and forth session on Tuesday, only to end up where it started basically. This is telling as we saw a massive "risk on" rally around the world in the various stock markets, and as a result we are very unimpressed with the Euro and its lack of follow through on the session. The EUR/CHF continues to taunt the Swiss National Bank at the 1.20 level. This standoff will have to come to some kind of conclusion before too long..... Play video >>
USD/CAD is hovering just below the parity level again, and the Monday session saw an attempt to break through the 200 day EMA as well. However, as the day wore on - we saw the familiar pattern of falling back below the 1.00 mark by the end of the day. The candle is a shooting star, but the higher lows have us worried. The USD/CHF pair fell hard during the Monday session, falling yet again from the 0.9250 level. This pair has been consolidating lately, and with the Monday action - it appears this will continue. Play video >>
USD/JPY continued to fall on Monday as the Dollar got sold off against most currencies around the world. The pair is coming upon massive support though, and as a result we are very interested in the 80 level in this market. With this in mind, we are looking at several factors at one time. The EUR/USD pair shot straight up during the session as the 1.30 level held as support yet again. With this being said - selling is still the way to go in this pair. Play video >>
EUR/GBP fell again for the session on Friday, and currently sits atop the crucial 0.82 support level. The pair looks ready to fall, and the weekly charts look especially dire. We are selling a break below, and rallies that show weakness. The EUR/USD pair doesn't look much better, currently sitting just above the 1.30 level. This area has to hold as the market has pushed back to the upside every time we approach it. However, we are looking weaker and weaker at this point. Play video >>
USD/CAD has been in a tight range over the last few weeks, and as a result has been a scalper's and short-term traders market. The parity to 1.0150 to 0.99 levels are the boundaries that the market wants to play in - we might as well take advantage of it. The GBP/USD pair is in a similar type of situation. The 1.58 and 1.60 levels are the boundaries in this market as well. This is an area that has been fairly consistent lately, and as a result we can take advantage of it. If it falls - 1.5650 is calling. Play video >>
EUR/USD fell after first trying to rally for the week. The result was a shooting star, and as a result we look like we are getting ready to try and break below the all-important 1.30 level. The GBP/USD pair did much the same thing, but is currently stuck in between two levels, not just sitting on one like the Euro. This pair could be ready to make a move. The USD/JPY pair fell again this past week, but it is working its way down to the 80 handle - a confluence of several supportive things in one spot. This could be getting ready to set up one of the better trades that we have seen lately. USD/CAD still sits in a tight range. Oil markets are going to have to decide what they want to do before we get a clear move. Play video >>
NZD/USD shot straight up for the session on Thursday as the "risk on" attitude came back into the markets overall. The recent consolidation level looks as if is being broke out of, and as a result - we like this pair for longs again. A break of the top of the Thursday range would signal the next leg up. The USD/JPY pair fell for the session on Thursday, but is approaching the all0important 80 handle. Also, there is the 50% Fibonacci retrace level, and the 200 day EMA - all supportive. We will be waiting below. Play video >>
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