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EUR/USD fell initially during the Tuesday session as the EU Finance Ministers cancelled their meeting on whether or not to deliver the next bailout for the Greeks. However, later in the session there was an announcement that the presumed incoming Prime Minister of Greece is willing to promise a continuation of austerity if elected. The EUR/CHF pair continues to grind lower, testing the Swiss National Bank. Remember that the 1.20 level is a bit of a floor in this pair, and the threat of intervention will have to be acted upon if we get much lower. Because of this - we are willing to buy at lower levels. Play video >>
AUD/USD rose initially on Monday but the rally ran out of steam by the time the Americans came online. The pair looks as if the 1.08 level is going to be a massive area to overcome, and the shooting star gives the idea of a pullback some real weight at this point. NZD/USD had a similar day, but out of the two looks the stronger. While the Aussie looks sets for a real fall, the Kiwi looks like it may try to put up a fight. However, lower prices are probably ahead. Play video >>
EUR/USD initially rose during the Monday trading session after the Greek Parliament passed the austerity measure, but the risk appetite fell almost right away. The result is a very suspicious looking Euro at the moment. The USD/JPY fell initially as well, but found the 77.50 level as supportive. The hammer looks good - but there is a major resistance point above that we need to be concerned with and perhaps see it as a selling opportunity in the near future. Play video >>
USD/JPY sat fairly still on Friday after making a fairly parabolic short-term move. The 78.50 level above looks very resistive at this point, and we feel that a pullback is coming. The Bank of Japan is below - but we have a couple of handles before they get involved. USD/CAD continues to bounce around in the parity neighborhood, although the move was strong on Friday. None the less, this pair looks lost, and a great place to lose money at the moment. Play video >>
AUD/USD fell on Friday as the "risk off" attitude came back into the markets. The Aussie has been parabolic, and as a result it looks as if the pair needed a pullback. The 1.06, 1.05, and especially the 1.04 levels are all potential buy zones. All we need is a supportive candle. NZD/USD has been even more parabolic, but the last week saw it sit still at 0.8350 or so. The pair fell hard on Friday, and with the sell off and fears coming out of Europe, a move down should continue - but we like this pair overall. 0.80 is our "line in the sand" and we will buy only as long as we are above it. Play video >>
GBP/USD poked through the 1.58 level during the week, but didn't manage to close above it. Also, it printed a shooting star at the level, and looks a bit on the weak side because of it. The AUD/USD pair fell at the end of the week as the 1.08 level proved to be a bit too much for the pair to overtake. Also, the bullish run had been a bit parabolic, and as a result we will more than likely see a pullback at this point. We still like this pair. USD/CHF continues to skirt around the 0.91 level, and looks like it is trying to find support at this area. The most likely move will be to the 0.95 level, and we are still constructive in this pair. Play video >>
AUD/USD rose for much of the session during the Wednesday session but fell to print a shooting star at the 1.08 handle. The area is considered a "barrier" at this point in time, and the failure is an interesting development. Because of this, we feel a pullback is coming. NZD/USD had a similar session as the AUD/USD pair. The Kiwi also has a hammer from the Monday session, so instead of a pullback at this point - we may just get a consolidation in the area. Play video >>
EUR/USD did very little over the course of the Wednesday session as the markets continue to wait for the Athens meetings to produce some kind of agreement on the debt issues. However, we are still waiting....and waiting....and waiting. One wonders how much longer they can drag this out. EUR/CHF rose for most of the session but fell later in order to form a shooting star. The pair looks like it wants to test the 1.20 level, but the SNB will be there waiting for it. So will we. Play video >>
USD/JPY shot straight as the Bank of Japan finally admitted that they have been active in the currency markets lately. Surely, anyone who can look at a chart sees that something has been going on at 76.50 or so. The pair could pullback though, and then it could be bought. The NZD/USD has been strong lately, but didn't impress during the session as the gains were relatively flat at the end. The pair could pullback - and we would welcome that as an opportunity to buy this currency at lower rates. Play video >>
EUR/USD rose rapidly during the Tuesday session as rumors of a possible Greek debt deal came out. (Again) However, the deal hasn't been signed yet, and the market could be driven by headlines in the short-term. (Again) The 1.32 level could act as support, and as a result the next move could see this pair move to 1.35 or so. The EUR/JPY is slamming against the 102 level, and looks like it could run into serious resistance at this point. The market will continue to be vulnerable to headline risks, and as a result - we need to see a daily close above the 102 level to buy now. Play video >>
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