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USD/CHF had another gain for the session on Wednesday as the pair continues to grind higher. While the rest of the world watches the EUR/USD, this pair could be the play after all. The Swiss National Bank is working against the Franc, and so is the European economy. The USD/JPY pair is sitting still at these levels, which are at the bottom of a recent consolidation pattern. Because of this, many traders will be suckered into shorting here. Don't be one of them! Play video >>
EUR/USD fell during the session on Wednesday, and triggered the sell signal from the Tuesday shooting star. However, the 1.27 level looks like the start of support all the way down to 1.26 or so. We anticipate a bounce at this point - and welcome it as an opportunity to sell at higher levels. EUR/GBP rose as well, mainly helped because of a miserable session for the British Pound overall. The pair is much like the EUR/USD - a sell only one. We are looking between the 0.83 and 0.84 handle for signs of weakness in which to sell again. Play video >>
GBP/USD rose for the session on Tuesday, but struggled to get above the 1.55 level. This area was previous support, and could provide strong resistance as we have been grinding lower overall. Looking at the short-term charts could be the way forward in this market. GBP/AUD fell fairly hard for the session, but managed a nice bonce at the 1.50 level. This major area should provide at least some support, but the trend is most certainly down. Selling bonces could be very profitable. Play video >>
EUR/GBP originally rose during the Tuesday session, but found itself wanting as the 0.83 level came into view. The failure at this point on the chart looks fairly significant, and this one could grind lower as the Pound isn't necessarily loved - but at least it isn't the Euro! EUR/JPY rose as well, but also failed. The gap from the weekend has been filled, and it looks like the 98 area might offer significant resistance. The pair looks set to continue the fall if we get under the low for the session on Tuesday. Play video >>
USD/CHF fell during the Monday session that saw the Chairman of the Swiss National Bank resign as the recent scandal involving his wife using him for trading signals comes to light. At first, traders bought the Franc in general as they thought the "floor" was going to disappear. USD/CHF was the only pair that trade stuck in - for other reasons. GBP/USD bounced a bit form the bottom of the recent consolidation range as the lows held again. However, the highs are getting lower - are we getting close to a break down? Play video >>
EUR/GBP rose during the session on Monday as the gap from the open was quickly filled. The 0.83 level still looks resistive though, and as a result, this pair looks like it is going to rally a bit in order for us to sell more! The EUR/USD did much the same thing for the session. The risk in Europe is still high, and as a result we still like the idea of owning the US dollar against the Euro overall. However, there is a real chance of a slightly larger bounce in the near term, and we think selling this pair will be viable in the next 24 hours, but the higher the better! Play video >>
NZD/USD had a very quiet day for the Friday session as it sits on the 0.78 level. The longer term charts are suggesting a bit of consolidation, and the commodity markets will confuse this pair even more. A sideways move is probably coming, but with a downward bias. The USD/CHF pair made a fresh high for this rally on Friday yet looks like it is ready to pull back. As long as we are above 0.93 – it’s a buy. Play video >>
EUR/JPY continues to reach for lower prices as the world is ditching the EU as fast as it can. These low levels certainly have to have the Bank of Japan worried, but this stampede might be a bit too much for it to fight. Besides, they pay more attention to the Dollar. EUR/USD fell apart again on Friday as the world continues to dump the Euro. The Americans had a better than expected jobs report, and as a result drew a nice contrast from what is going on in Europe. Play video >>
USD/CAD originally fell during the previous week as the fears of Iranian blockages in the Strait of Hormuz weighed upon the oil markets. However, as the week continued, the Dollar got a bid against everything, and the pair ended up rising - to form a hammer to show support at 1.01 again. The EUR/USD has finally broken down below the 1.29 level, and ended the week very poorly. The situation in the EU continues to weigh heavily on the Euro, and the situation could get worse before it gets better judging by bond yields. GBP/USD is sitting just above the 1.53 level. This is one of the biggest levels in FX markets right now. Play video >>
EUR/GBP continues to dive lower as the exodus of money from the European Union continues. London is a major banking center, so the flow of currency from Belgian, French, and Greek banks into the UK isn’t exactly a surprise. Technically, this chart looks horrible. EUR/USD managed a new low for the Thursday session, reaching below the 1.28 mark for the first time in over a year. The writing is on the wall as the Euro looks very, very vulnerable at the moment. Play video >>
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