The EUR/USD has bounced this previous week, but as you can see on the charts - it looks like the previous support has offered just enough resistance to be effective. This pair looks bearish at best.
The USD/CAD chart looks horribly weak, but there is the question of the 0.97 level and the hammer it produced last time the weekly chart got that low. The pair cannot be bought until we break free of the 1.0050 level, so we are waiting to see if weakness comes back into the market in order to sell - which is with the overall trend.
NZD/USD looks set to settle into a range between 0.81 and 0.86 or so. This pair is highly sensitive to global risk and sentiment, so we could have choppy conditions ahead.
AUD/USD looks very strong, although it is still in the recent range. However, a hammer that is a higher high than a recent other hammer - well....that can't be ignored at all.
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