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.
EUR/USD shot straight up for the session on Wednesday as traders celebrated more potential free money for Greece. The pair however, is pushing against at least two major resistance points now. EUR/CHF formed a shooting star at the bottom of a recent fall, which signals more weakness. However, only the truly brave are shorting at this point - just 70 or so pips above the Swiss National Bank's "Line in the sand" at 1.20. Play video >>
USD/CAD continues to grind away in a massive symmetrical triangle, and the Tuesday hammer looks like we will continue to bounce around in it. However, there is a ton of support below, and this might actually favor Dollar strength in the future. AUD/USD saw am attempt to break above the 1.04 resistance level, which we have as a resistance level at the top of an ascending triangle. The failed breakout sets up an interesting market.... Play video >>
EUR/USD rose during the session on Tuesday as the "risk on" trade came back. The Spanish managed to have a decent bond auction, and the markets responded as such. However, later in the session we saw a lot of risk assets sell off - including this pair. It still looks very weak, and is a massive sell under 1.26 or so. EUR/GBP rose however. This is probably a sign of real weakness in the British Pound rather any real confidence in the Euro. All things being equal - this pair looks weak still. Selling rallies is probably the way to go. Play video >>
GBP/USD had a small gap, but managed to rise over the session on Monday. The resulting candle is a shooting star-like one, and shows that the pressure is starting to build on this pair. The 1.53 level just below is a massive spot as it is the neckline on a larger head and shoulders pattern. Because of this, we sell this pair only. GBP/HKD isn't a pair that you look at very often. However, the Hong Kong Dollar is pegged (in a range) against the US Dollar, and as a result it is interesting to see underlying strength or weakness. The GBP/HKD has already broken below the support level in that pair - perhaps a sign of things to come in the cable mentioned above. Play video >>
EUR/USD gapped lower at the open on Monday, only to turn around and fill it. However, with the recent bearish outside engulfing candle made on Friday, and the fact that we are pressing the 1.26 level, this pair looks set to fall further. If 1.26 gives way - we could see 1.19 fairly quick. EUR/JPY looks very similar to the EUR/USD pair. The one difference is that the pair didn't even bother to attempt an up move for the session. The Euro is currently at an 11-year low against the Yen and that doesn't look set to change anytime soon. Play video >>
When looking at a currency, it is a good idea to see who it performs overall. For example, if you are looking at the AUD/USD pair, it is a good idea to understand if the AUD is strong or weak. By looking at different currencies against the Aussie - you can get a good idea. Play video >>
AUD/USD fell for most of the session on Friday, but got a nice bounce from the lows. NZD/USD isn't in a triangle - but it has been bullish. The matching hammer at the top of the range for Friday looks very healthy. 0.80 is the mark we need to close over to get long. Play video >>
USD/CHF is one of the more interesting plays out there currently, and probably one of the least known. EUR/USD originally rose during the previous week, but fell in the end. The shooting star at the bottom of a recent down move signals that perhaps we can continue to fall. The 1.26 level is key though. The USD/JPY pair is starting to show support at 76.50 again, but is simply not moving...... Play video >>
EUR/CHF fell during the Thursday session as the market continues to test the patience of the Swiss National Bank. EUR/JPY rose during the session as the relief rally in the Euro was seen on multiple fronts. Play video >>
EUR/GBP had a strong bullish day on Thursday as the world celebrated two successful bond auctions in Spain and Italy. However, the trend is obviously stronger than two bond sales. We see several selling scenarios ahead. EUR/USD had the same kind of day. As the Pound is significantly weaker on the whole than the Dollar, it is hard to think this pair won't outperform the one above. The pair looks ready to bounce, but there is a real fight coming at the 1.30 to 1.31 area. Play video >>
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