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EUR/GBP fell over the session as the 0.84 resistance level reasserted its dominance in this market. The pair is decidedly bearish, and the failure to rise above may have this pair aiming for 0.80 or so over the long term. The EUR/CHF actually rose during the session as the SNB looms large underneath. The pair is in a consolidation area between 1.21 and 1.24 (roughly), and it looks like that continues in the near term. Play video >>
USD/JPY shot straight up during the Tuesday session as the Yen was sold off against many currencies. The pair slammed into the 78 area, and found itself slowing as soon as the first bits of resistance were met. Because of this, we see this pair heading back down towards the 76.50 level. The EUR/USD pair ran up to the 1.30 area on Tuesday, and even formed a hammer. However, the resistance area goes all the way to the 1.31 level, and we aren't comfortable buying until the market closes above that level. Selling is easy if we break the bottom of the hammer, which would actually make it a "hanging man." Play video >>
USD/CAD has been many things over the last several weeks. It has been a market that is forming an ascending triangle, other times it has been a consolidative market that is forming a rectangle, and now it is forming a descending triangle. Parity continues to be important. USD/CHF is just under the 0.93 level, but the support runs a bit deeper than this. While it looks weak, we need to see a close below the handle to get short - and watch the EUR/CHF pair! Play video >>
EUR/GBP fell during the Friday session as the Pound got bought against everything. The Euro was stronger too, but in this contest of ugly currencies, the Pound isn't quite as ugly it seems. The fall is inline with the trend, and looks set to continue down to 0.80 in our opinion. EUR/CHF is sitting just above the 1.20 "floor" that the Swiss National Bank put in the market. The selling of this pair is only for the foolish at this point, as the SNB will HAVE to intervene if we break lower. Play video >>
AUD/USD rose above the 1.04 resistance area on Friday. This area is a significant breakout above the top of a triangle that measures a whopping 800 pips. With this in mind, it looks like the Aussie is going to be strong going forward. USD/CAD rose initially during the Friday session, only to fall again in late trading. The triangle is still holding, but are we starting to form a different triangle? Play video >>
EUR/USD had a very strong week over the last 5 sessions, and is currently testing the 1.30 level. This area could potentially dictate the direction going forward over the next few months. The 1.26 level is the other one you need to pay attention to. USD/CHF looks very weak. However, are you willing to take on the Swiss National Bank? You might have to if you simply follow the technical patterns. AUD/USD looks very, very healthy at this point in time. The pair has broken out of a massive triangle, adn the 1.04 level giving way is a big deal. Find out why in this video. Play video >>
EUR/USD rose again for the Thursday session as the bond markets continue to behave fairly steadily in the EU. However, we have seen this movie before, and the 1.30 area is coming up. Can we continue? The GBP/USD is in a similar situation. The 1.55 level will be the start of serious noise in this pair, and now we have to see if the bulls can continue to push this pair back up. If they do - they will have averted disaster as the head and shoulders will have been avoided. Play video >>
USD/CAD fell during the session on Thursday as the oil markets continue to lead this market around by the nose. The triangle was violated, but the massive support in the 1.01 area came into play, and forced a hammer at the uptrend line. USD/JPY got a nice pop for the session, but pulled back a significant portion of the gains for the session. The 76.50 level offers support, and we are looking as scalping opportunities from closer to that area. Play video >>
USD/CAD fell during the session on Wednesday as the oil markets continue to push the Loonie around. The massive triangle continues to hold - but just barely. Before the bears get too excited though, they may want to look at 1.01, parity, and perhaps even the 0.99 level. USD/CHF fell during the session on Wednesday as the Dollar got hit overall. However, we are just above the 0.93 level, and we could see a bounce from that area. The most recent high was higher, and as long as 0.93 holds - it looks like the uptrend could still be intact. Play video >>
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