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USD/JPY formed a gap up during the session on Monday as traders continue to sell off the Yen. The Bank of Japan has announced an expanded bond buying program, and this could continue to work against the value of the Japanese currency. The 80 level is a massive area, and we will be watching. The AUD/USD pair had a gap as well, but fell back below the opening price. The pair looks weak at this point, and likely to continue the consolidation area going forward in the near term. Play video >>
EUR/USD rose on a gap from the weekend as the markets reacted to the Greeks passing austerity measures. The markets seem to belief that the money will be shipped to Athens, and make every thing ok. However, the 1.3250 level produced a shooting star again. The EUR/CHF is a highly manipulated market. The SNB is holding back the bears at 1.20, but the threat of intervention looms and the market seems like it wants to test their patience. Something will have to give, and it will only be a matter of time. Play video >>
AUD/USD has found serious resistance in the form of the 1.08 level. The pair looks like it is ready to have a pullback, and this would be healthy for this strong uptrend. The 1.04 level is a massive level for the bulls. NZD/USD pair currently is consolidating between the 0.8250 and 0.8450 levels. The pair looks as if the move is sideways, and the shooting stars and hammers show it. A fall isn't a selling opportunity - it is a buying opportunity - at least until 0.80 gets broken. Play video >>
EUR/CHF continues to bump along the bottom of the accepted range for the Swiss National Bank. The SNB is willing to put in a back stop to buy orders, you should be taking advantage of that very fact..... EUR/JPY has been very strong as of late. However, the 105 level is quickly approaching, and it is now that we will see what this rally is actually made of. Monday's meeting in Brussels could have a massive say in where the next 300 pips lay. Play video >>
EUR/USD continues to be a mess. The EU has a significant meeting on Monday to debate as to whether or not the Greeks will get the next bailout. We think they will, but will there be a lot of drama in the meantime. USD/JPY had a remarkable week over the last 5 sessions. The Bank of Japan continues to expand their bond buying programs, and this is an attempt to weaken the Yen. But what about 80? AUD/USD looks as if it is trying to roll over. It's a strong uptrend, but perhaps there is a pullback coming? Play video >>
USD/JPY has shot straight up again on Thursday, and looks set to continue. The move has been parabolic on just about any metric, so we aren't ready to go long at this point as it would be chasing the trade. The 80 level above looks very resistive, and it is there that we see real opportunities. The AUD/USD continues to fight gravity, and looks like it is ready to consolidate in the neighborhood it presently sits in. The 1.08 level above should continue to fight the bulls, but the area should only be a minor stop to 1.12 or so. Play video >>
EUR/USD fell initially for the Thursday session as the "risk off" trade was back on. And then, almost as if on cue - rumors came into the market that the ECB might be swapping out short-term bonds in Greece for longer-dated ones. This gave the Euro a boost, and we were off to the races. 1.3250 still looms large though. EUR/JPY had a similar day in the sense that we shot straight up after the announcement. However, we are starting to enter an area that will provide a bit more resistance. Play video >>
NZD/USD started to rise in value during the early hours of the Wednesday session as the news hit the wires that the Chinese might be willing to buy EU debt. We have seen this movie before, and as a result the rally faded fairly quickly. The pair then fell even harder once the Europeans stepped into the headlines by telling the world that the Greek tragedy wasn't over. The USD/CHF has the Swiss National Bank backing it at the moment via the EUR/CHF pair. The intervention zone is coming soon in the EUR/CHF pair - so selling this pair isn't in our thoughts. A break higher would have us long though. Play video >>
EUR/USD initially rose during the Wednesday session, but bad news out of the EU again weighed upon Euro. The pair has fallen from the 38.2% Fibonacci level, and looks set to try to break support at 1.30 going forward. The GBP/USD had a similar day, but also has a perfect shooting star on the weekly chart for a punctuation of the bearishness - we aren't willing to argue. Play video >>
USD/JPY shot straight up on Tuesday as the Bank of Japan has announced continued and expanded bond buybacks and other such programs to bring the value of the Yen down. However, the 80 level looms large, and we think that is where the real battle is. The USD/CHF pair looks as if it is trying to build a base just above the 0.91 level, and the 0.9250 level seems to be the top of the recent consolidation. The pair looks like it wants to rise, and with the Swiss working against the value of the Franc - it probably will. Play video >>
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