The EUR/USD pair fell hard during the week, but still finds itself stuck within the 1.45 - 1.40 confines. This pair looks very range bound, and should continue to be until we get some kind of decisive break out of the range. If we break 1.45 on a daily close - it looks like a buy. If we get a daily close below 1.40 - it looks like a sell. Very simple at the moment really.
EUR/CHF continues to whip around, and found itself in a 1,000 pip range for the week! The 1.20 level is obviously very resistive, and the 1.10 level is obviously supportive. Until we close outside of this range, we may find this pair very difficult to trade. It should be noted that when a trend changes, it gets quite messy. This is starting to (somewhat) look like that.
USD/JPY finds itself being supported at the 76.50 area. The fact that the market is so bearish, and yet this level holds like a rock makes us wonder if the Bank of Japan isn't intervening in a clandestine way? The pair looks flat, and will be a scalper's market for the time being.
Create a FREE account