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AUD/USD had a strong session on Thursday as a couple of Federal Reserve board members spoke of low rates going forward. The gold market took off, and this of course had the Aussie gaining. The pair looks to break out above the top of this downtrend channel, and the 200 day EMA is now below the current price. The EUR/USD did a very similar thing: shoot straight up. However, unlike Australia, Europe has a lot of problems economically at the moment. The problems aren't anyway near being fixed, so this rally will probably be faded again. Play video >>
EUR/GBP tried to rally again on Wednesday, and just like Tuesday - failed. The pair looks very bearish at this point, and the 0.82 level is being threatened. This pair could fall a bit more, perhaps to the 0.80 level if that area gives way. We will be watching this pair without a doubt. The GBP/USD pair found support again at the 1.58 level. The 200 day EMA is sitting there as well, and because of this, there will be a lot of buyers willing to step in. However, the 1.60 area is also resistive. The breaking of the recent highs are needed for us to be comfortable going long at this point. In the mean time, this is a scalper's market. Play video >>
USD/JPY rose a bit during the Wednesday session as the bounce tried to recapture the losses from the Tuesday sell off. However, the 80 level below is a major confluence of support in our eyes, and while we aren't quite there yet - the shooting star looks like we are going to try and make it. It is at that level we could see a serious trading opportunity. EUR/USD is sitting just above the 1.30 level, which is a massive place for support. With this in mind, the two shooting stars at the bottom of the range are very interesting indeed. Play video >>
NZD/USD had a bearish day on Tuesday, but so did most other XXX/USD pairs. The Dollar reigned supreme as the "risk off" trade came back into the fold, and it should be noted that this pair out of all of the high-flyers seemed to have done the best. There are a few supportive areas below to keep this pair from falling too far in our opinion. The NZD/JPY pair fell as you would expect. The market closed at the bottom of the daily range, and as a result it looks as if it wants to continue falling. However, the 65 level below looks like it could be supportive. Oh, then there is the 200 day EMA below that. Play video >>
USD/CAD rose during the session as the oil markets fell. The breaking of the parity level on a daily close is a big deal, and the 200 day EMA is now below the current price. This bodes well for the bulls, and now the last hurdle for us is the 1.01 level. If that gives, this pair climbs higher. The AUD/USD pair fell hard during the Tuesday session, but now sits on top of the 50% Fibonacci retracement level. The pair looks weak, and as a result it is going to be difficult to buy at the moment. As long as the commodity markets struggle, the Aussie will too. Play video >>
EUR/GBP fell for part of the session on Monday, rose for another part, and finished the session as a long-legged doji. The pair is currently sitting just above the 0.82 level, and this area should be supportive. However, this pair looks weak, so we like selling rallies and a breakdown below the 0.82 level. EUR/CHF continues to be the slowest moving pair in the Forex world at the moment. With the 1.20 level being so supported, it simply cannot fall - and there is no real reason to own the Euro. However, there is a trade in this pair if you are patient. Play video >>
USD/CAD rose again during the Monday session only to fall again and form a shooting star. The pair is heavily influenced by oil, and the Light Sweet Crude markets formed a hammer - suggesting the oil markets may rise. Because of this - selling is an easy trade. The EUR/USD pair fell but managed to form a hammer above the 1.30 support level. As a general rule, buying the Euro isn't a wise idea, and we will simply be waiting for the bounce to sell this pair yet again. Play video >>
EUR/GBP fell again for most of the session on Friday, however we saw a bit of a hammer as this pair bounced at the end of the session. The 0.83 level gave way a few days back, and it now looks as if the level could be resistive. Selling rallies with signs of weakness and breakdowns below the recent lows is the way we will trade it. The GBP/JPY pair fell most of the session as well, only to find support at the 129.50 area - a place that we think is the bottom of the support at the 130 round number. We think that the Yen will continue to weaken overall, and as such as looking for supportive candles to buy. Play video >>
EUR/CHF fell on Friday, for the second day in a row. The 1.20 level is being tested, and it seems that the Swiss National Bank will have to enforce their "minimum acceptable exchange rate". Because of this, we are not interested in testing the central bank's will. Buying can be done though - if you are patient. EUR/USD rose on Friday, after falling most of the week. The poor Non-Farm Payroll numbers out of America sent this pair higher - but it should be noted that the pair was stopped dead in its tracks by the first sign of resistance at 1.31 and sat still. Play video >>
EUR/USD fell most of the week, but got a bit of a reprieve as the Non-Farm Payroll numbers came out on Friday and were weak. The 1.30 level below looks supportive, but this pair is weak - and with good reason. The USD/CAD continues to be tight, and this range bound market continues to be the realm of scalpers. The oil markets will continue to push this pair around, and as a result there isn't much in the way of longer term trades. AUD/USD managed a small bounce from the 50% Fibonacci level, and we think that perhaps we could see a bounce. However, there is a down sloping channel to worry about as well. NZD/USD formed a doji - for the second week in a row. More importantly - it formed after three hammers in a row. Play video >>
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