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USD/JPY went back and forth throughout the session on Tuesday, and formed a perfect doji. The 80 level just below should continue to be supportive, but we need to see a break above the top of the range for the day. A break below the bottom of the daily range breaks the 80 as well, and we see this as a very negative signal if it happens. EUR/USD rose again during the session as the 200 day EMA is being tested. The 1.35 level is just above, and the 50% level is also in the neighborhood. With all of this and the LTRO coming out today, this market is ready to move......it looks a bit weak though. Play video >>
USD/CAD rose initially on Monday only to turn around and fall in the end. The resulting candle is a shooting star, and at the parity level. However, it is hard to see a catalyst for a breakout of consolidation in this pair if oil can't do it. The AUD/USD is forming consolidation just under 1.08, but now looks as if the consolidation is actually a bullish flag. Will we see 1.15 in the future? Play video >>
EUR/USD fell on Monday as the 50% retracement level came into play. Also of note was the 200 day EMA and 1.35 handle. With all of this, and the fact that the pair had risen so much - a pullback was bound to happen. Short-term selling can be expected going forward if we fall a bit lower. EUR/CHF still remains just above the 1.20 level. It is as if the traders out there are trying to tempt the SNB into doing something - or are they already??? Play video >>
USD/CHF fell again on Friday, and has broken below the 0.90 level. The pair is being influenced by the EUR/CHF however, so both pairs will need to be watched if you are to short this pair. GBP/USD rose quickly during the session on Friday and smashed into the 1.58 - 1.59 level. The 1.60 above still looms large,and because of this we could see a return to consolidation down to the 1.5650 level. The breakout of this area is what is needed in order to make a real move. In the mean time, we are willing to play the range. Play video >>
NZD/USD rose initially during the Friday session as the markets have been commodity positive. The end of the session saw a pullback, and as a result the candle is a shooting star. The pair looks as if it wants to consolidate, and as long as we start in this "box", we think the upside is more than likely to be the next move. AUD/USD looks very similar as it has run up so far, only to consolidate. Personally, we like both pairs, but this one could pullback a bit, offering an opportunity to buy on the cheap. Play video >>
AUD/USD is currently pressing against the 1.08 resistance level. Although we had a bit pf a pullback, the odds still suggest that we are going higher in this pair, and a post-1.08 daily close could be our signal to buy. USD/CAD is where money goes to die these days, and will continue to be until the 1.01 level gets broken to the upside, or the 0.9750 level gets broken to the downside. However, don't you find it odd that the Canadian dollar doesn't rise with Crude Oil prices??? EUR/USD broke out above the 1.3250 level late in the week. It challenges 1.35 presently. Now the real work begins for the bulls. USD/JPY finally managed to smash through the 80 level this past week. This is a significant breakout, and we think this pair could be working on a trend change at this point. Play video >>
AUD/USD rose on Thursday as the 1.06 level held as support again. The flooding of liquidity by central banks should continue to boost the demand for commodities, and this always helps the Aussie. The pair is being held down by the 1.08 level - but we still see 1.12 as the target. The USD/CAD pair continues to ping around the parity level, and the market continues to be a scalping one. The 0.99 and 1.0000 levels should continue to be boundaries going forward. Play video >>
USD/JPY fell on Thursday as the market finally got a bit of a pullback. However, it looks as if the 80 level is trying to act as support at the end of the session. The pair looks as if it is ready to make a serious move again, and the breaking above of the 80 level could lead to longer-term opportunities as well. The USD/CHF pair fell down to the 0.90 level on Thursday. This is a massive support level, and we think that the fact the pair managed to break through the 200 day EMA signals that we could be setting up for the next move. Watch EUR/CHF though! Play video >>
USD/CAD continues to chop around the parity level. One thing that is interesting though is the fact the oil can rise without the Loonie. This shows to us that CAD strength isn't there - and oil is basically a reaction to the Iranian situation more than anything else. CAD/JPY went parabolic last week. However, the candles for this week look like a pullback is likely. Overall, the pair should be strong, but we see some real chances at a short-term selling opportunity. Play video >>
EUR/USD hardly moved during the Wednesday session as the 1.3250 level continues to be resistive. The area is also the 38.2% retrace of the fall from last year, and the 100 EMA is just above. With all of this in mind, we are looking for weakness to sell as the reaction to Greece settling the deal hasn't been that impressive.... The EUR/CHF continues to fall and test the patience of the Swiss National Bank. Because of this, we are not willing to sell at these low levels.....we are simply far too close to the "floor" in this pair. On the other hand, we like buying short-term supportive candles. Play video >>
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