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USD/CAD fell hard during the session on Wednesday as the oil markets got a nice bounce. The market is picking up on the rumor that the Fed is about to ease again, and this got the risk assets out there gaining for the day. Bernanke speaks to the Congress today - so his words will be watched. The NZD/USD pair broke out of recent consolidation on Wednesday as the "risk on" attitude came back for the moment. However, the trend is certainly down, and a lot of this is based upon rumors. These rumors could be smashed or validated today by Mr. Bernanke. Play video >>
GBP/USD had a fairly quiet session on Tuesday, but still looks as if the bulls are trying to build some kind of base. After the Friday hammer, there has been a fairly quiet resolve to this pair. A bounce could be coming at this point, and is probably overdue. The EUR/GBP pair fell to find the 0.81 level on Tuesday. This could be a retest of the breakout level, but this pair is decidedly bearish, and the 0.82 level above could be trouble for the bulls. If we fall back down, there is a real chance of further consolidation. Play video >>
USD/CAD tried to rally during the session on Tuesday, but only failed in the end. The resulting candle was a shooting star, and as a result it looks like a pullback is coming. This should only be a buying opportunity in the end. The AUD/USD pair had a strong session on Tuesday that is being added to today. This move looks like an attempt to reach the 0.99 level, and possibly attempt to take on the bears at the parity level as well. Play video >>
NZD/USD had a relatively quiet day on Monday, which is a bit strange considering what the Euro did. The pair looks as if it is trying to consolidate for a move, and as a result we are watching this tight range closely. The AUD/USD pair looks a bit more robust. However, this pair is highly sensitive to risk, and this has us cautious about getting too bullish at this point at there are a few resistance areas just above. Play video >>
USD/CAD struggled a bit during the session on Monday as the oil markets found a bit of a bid. With the overbought condition of this pair though - it couldn't have been a big surprise to many. With this in mind, we still believe in the bullishness of this pair, but are waiting for a pullback to the 1.03 level with supportive candles to buy from. GBP/USD looks a bit weak, and with the ratings agency Egan-Jones downgrading the UK during the late hours on Monday, there is a real chance this pair under performs the others. Play video >>
NZD/USD fell most of the session on Friday, but formed a hammer to show support at the 0.75 level. The pair however is a highly risk correlated market and will continue to be a pair that we sell over time. The breaking and a daily close below the 0.75 level has us selling massively. The breaking of the 0.77 level should signal a higher move, but we think those moves will offer selling opportunities on weakness. The USD/JPY pair fell again on Friday in reaction to the Non-Farm Payroll numbers, but the pair now sits on the 78 handle, a spot for serious support. The Bank of Japan is just below, so we are looking for supportive candles to buy. Play video >>
USD/CAD had a bullish session on Friday as the Non-Farm Payroll numbers came out very weak in America. The CAD is being pummeled as the oil markets continue to give way as well. The lack of demand for oil will continue to harm the Loonie, and we like pullbacks as a result. The EUR/USD pair has a bullish session as the poor NFP numbers got people thinking that the Fed will have to ease. However, the ECB is likely to be first to do so, and there are far too many negative headlines out there waiting for us to go long. Also, there is that pesky 1.25 level... Play video >>
EUR/USD sliced through the 1.25 level over the week. The pair managed to bounce a bit on Friday though, as the Non-Farm numbers came out weak. This led to speculation that the Federal Reserve could ease further, and this hurt the Dollar in the end. However, this pair looks weak overall. The USD/CAD pair managed to pop above the 1.03 level as the oil markets completely falling apart. The CAD continues to follow the oil markets as usual, and as the oil markets fall - this pair should continue to rise overall. The 1.05 level looks to be next, and we buy pullbacks. The GBP/USD pair is currently sitting on the 1.53 massive support level. If the area gives way - this pair could fall another thousand pips eventually. Because of this, we are selling a break lower, and would also look to sell rallies. Play video >>
AUD/USD had an attempt at a rally for the Thursday session, but failed. The bearish momentum is seemingly far too strong at this point in time, and the pair sitting at the 0.97 level suggests that the pair is primed to fall. The shooting star for the session is a signal that the bulls simply cannot move this market now. The NZD/USD pair is very similar, and the 0.75 level is now being pressured. The Kiwi will continue to suffer on bad news - and there is plenty of it out there. Selling rallies and a break lower are both viable strategies in our opinion. Play video >>
The GBP/USD pair fell hard during the session on Thursday to solidify the position under the 1.55 level. The Non-Farm numbers could have an impact, but the Pound is in real trouble, and we don't think at the end of the day that its going to change soon. The EUR/USD is currently sitting at 2 years lows, and still managed to form a shooting star at the bottom of this fall for the day. This pair goes down, and all rallies should be selling opportunities at this point. Play video >>
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