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.
GBP/USD fell during the session, breaking through the 1.5650 level suggesting a serious fall. However, at the end of the session, we found ourselves treading water. The set up is rather simple now that we had this session though.... NZD/USD fell for most of the session, but bounced nicely during the day to form a hammer. The 0.8000 level remains our "line in the sand". Play video >>
USD/SGD bounced slightly during the Friday session as the Dollar got a bit of a boost in general. The current area that we are in is a massive consolidation area, and we think that we are going to be stuck in it for a while. The 1.27 and 1.24 levels could contain this pair for a while. The USD/MXN pair has been very bearish for a long time, and the oil markets should continue to push the Peso higher in value. The 12.6000 level is good support, but if oil continues higher, this pair should fall. Play video >>
USD/CHF saw a nice rally during the Friday session as the Non-Farm Payroll numbers came out much better than expected. With the SNB working against the Franc – Why not own the Dollar? The GBP/USD pair fell hard on Friday to test the all-important 1.5650 support level. If this area gives, we should see 1.55 quickly, and with all of the Dollar bullishness, this could happen quickly. Play video >>
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. Play video >>
USD/CHF fell hard for the session on Thursday, and this pullback could be the one the bulls would like to see. With the 61.8 and 0.90 both holding, we think the move up continues - but not without a pullback. Is this it? GBP/USD rose quickly during the session as the "risk on" trade came back for the Thursday session. However, the area we currently trade in is in the middle of the consolidation area. With this being said - we are watching 1.60 and 1.5350 at the moment. Play video >>
EUR/USD spiked during the session as many traders tried to get in front of the announcement concerning participation rates in the Greek debt swap. The market looks as if it is setting up to go even higher, but let us not forget the Non-Farm Payroll report. Only the brave (or possibly thick) will be trading this pair today. EUR/JPY rose as well, and we are running into a resistance area around the 108.50 level. The market is setting up to see good NFP news. Will it get it? Play video >>
USD/CAD continues to grind around the parity level as the pair simply cannot make a decision on what direction it wants to go. The oil markets continue to be erratic, and as such this pair will be as well. The pair has massive resistance at the 1.01, and support in varying areas all the way down to the 0.97 handle. USD/CHF pulled back just a bit on Wednesday after having a nice rise over the last few weeks. The area we are currently in is a large cluster of orders, and it makes sense we pullback and cool off a bit at this point. However, we are willing to buy pullbacks on signs of support. Play video >>
EUR/USD rose slightly during the very quiet Wednesday session as the markets await the participation rates of private bondholders in the Greek haircuts. (Or, if you are wiling to be honest - decapitation.) The market will more than likely see a bit of volatility today, but truthfully the Non-Farm Payroll being on Friday could mute any reaction save a complete disaster happening. The EUR/GBP rose a bit as well, but has formed a shooting star. This could perhaps be a bit of continuation waiting to happen. However, we need to pay attention to the 0.83 handle as well. Play video >>
USD/CAD has been very choppy lately. Also, there is a bit of a breakdown in the normally correlation between the rise of oil and the rise of the Canadian dollar. This could be a hint, and as long as we have so many support levels below us, selling is hard. Of course, there is that pesky 1.01 level above us.... AUD/USD fell lower, and broke below the recent support line at the 1.06 level. The pair is most certainly bullish still, and we have at least two levels below us where the buyers should step in. Play video >>
EUR/USD fell again on Tuesday, but finds itself in the middle of a very "noisy" area. With this in mind, we suspect that the next move will be sideways. The Thursday announcement of participation by private bondholders in Greek debt markets in the haircut will be vital. EUR/CHF is coming dangerously close to the Swiss National Bank's line in the sand. If you are patient, there are probably free pips to be had here. Play video >>
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