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EUR/USD looks as if it is going to find support at the 1.3250 level after all. However, the hammer is looking at a massive resistance level just above at the 1.35 handle. This pair looks volatile, with a slightly bullish tone for the meantime. The AUD/USD pair is currently testing a major area of support and confluence. The next couple of weeks will determine the next several months it appears. USD/JPY looks healthy still, and we now are setting our sights on the 85 handle. If that gives way - we take off. USD/CAD continues to slam into the parity level, only to be turned away. The pair looks tight, and we could see a massive move soon, if only we can breakout. Play video >>
EUR/USD fell for most of the session on Thursday, but found buyers at the 1.3250 level - the site of previous resistance. However, the pair looks like it is simply trying to reach the highs of the overall consolidation area @ 1.35 or so. The EUR/JPY pair fell as well, but also managed a bounce late in the day. the 108.50 level looks supportive, and the 200 day EMA is below. This suggests more bullishness in this market going forward. Play video >>
USD/JPY had a bearish day on Thursday, but managed a bounce to form a hammer-like candle. The 50% Fibonacci level held for the third time in the last couple of weeks, and as a result it looks as if the 0.82 handle could be a new floor of sorts. A break of the top of the Thursday range would be enough to have us long. The USD/CAD pair poked through the parity level on Thursday as the oil markets fell hard. The pair looks very bearish all of the sudden as the 200 day EMA is just above the shooting star that we formed. However, it won't be a straight shot down either. Play video >>
EUR/USD had a strange day on Wednesday as it couldn't quite gain traction in either direction. We still see plenty of possible headline risks out of the EU, and as such are looking for good sell signals. The EUR/GBP pair rose during the session as the Pound got hit in general. The 0.84 level held true, and looks to keep the market wrapped up tight. The consolidation in this pair has us looking for a breakout, either below the 0.83 level, or the 0.85 level being broken to the upside. Play video >>
USD/CAD rose during the Wednesday session as the oil markets fell. The parity level continues to press the pair down though, and the 200 day EMA doesn't help the bullish case either. The pair has been consolidating lately, and as a result it looks as if we are going to head back into that area. The USD/MXN pair has been doing much of the same thing lately, and this makes sense as Mexico is such a large exporter of oil to the United States. This pair is a very risk sensitive pair, and it makes sense that it has been going sideways. However, the pair looks like a great range play. Play video >>
NZD/USD rose for much of the session, but formed a shooting star at the end of the Tuesday session to see an ominous signal at the 0.8250 level. This looks as if we are going to pullback to the consolidation area, and a retest of the bottom of the area. However, the 0.80 level below looks to be massive support. The USD/CHF pair continues to fall overall, but is presently in the middle of a massive support zone. At this point, we simply can only wait to see what happens, but buying the Franc seems to be a bit dangerous as the SNB doesn't want you to. Play video >>
GBP/USD reached for the 1.60 level, but found itself wanting as the Tuesday session fell limp at the end. The level is a massive resistance area, and the shooting star certainly looks interesting as it could signal a return to the consolidation area. The EUR/USD ended up down at the end of the session, but only after printing a doji to suggest indecision. The market got a nice breakout on Monday, only to go "meh" on Tuesday. Not a good sign. Play video >>
AUD/USD shot up after Ben Bernanke mentioned that rates will continue to remain low as possible for as long as possible. The weakening of the Dollar will continue to push gold up, and this should continue to push the Aussie higher. 1.04 held - and that's huge. The NZD/USD pair continues to rise in value as commodities continue to rise at the same time. The anti-Dollar move looks to be setting in, and this pair will be bullish as a result. Play video >>
USD/CAD fell off of a cliff on Monday as the oil markets heated up. The comments of extended low rates by Ben Bernanke did nothing positive for the Dollar, and as a result we find that the stock markets, futures markets, and currency markets all went risk-on. The GBP/USD is approaching the 1.60 level, and by the looks of things - we could see a breakout. This pair will continue to follow the indices around the world, and with cheap money, it looks as if we are going to see both stocks and this pair higher. Play video >>
AUD/USD bounced from the 1.04 level, which is also the 38.2% Fibonacci level. The area was the breakout of an ascending triangle that looked like it was going to target the 1.12 level, and as long as we stay above that level - we see it as still very possible. The NZD/USD pair bounced as well, and the 0.81 handle looks supportive going forward. The 38.2% Fibonacci held true, and it looks as if the Kiwi will continue to rise..... Play video >>
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