Picking profitable trades is only one half of the equation. Learn to manage your fund to minimise risk and maximise growth.
USD/CAD looks as if it has broken out of a range on Monday, and ready to move upward. The pair is reflecting the "risk off" attitude of the markets well, and we think pullbacks could be buying opportunities as long as we stay above the 1.03 level. USD/JPY has finally found some support. However, the trend is so bearish that it will be difficult to buy. We like buying closer to 75.50, the site of the last intervention by the Bank of Japan. Play video >>
USD/CHF fell on Friday, but managed a bounce to form a hammer. This hammer is at the top of the recent range, and appears to hint at a breakout in the near future. If we get it – this pair should find 0.95, and then parity. CHF/JPY found itself trying to rally on Friday, only to fail. The Yen is by far the most prized currency at the moment, as we see nothing changing that anytime soon. With the SNB working against the Franc, don’t expect this pair to produce much to the upside anytime soon. Play video >>
NZD/USD continued to fall on Friday as traders shed risk anywhere they can. The daily candle was a shooting star, at the bottom of a down move. This is very bearish and shows us that the pair will find 0.75 and possibly lower levels. AUD/USD acted much the same, and formed a shooting star at the bottom of a down move as well, but this time at parity. The pair looks weak, but the area between here and 0.95 has massive support. We suspect bounces that will produce selling opportunities are coming Play video >>
EUR/USD slammed down into the 1.35 level again this past week, and even managed to spend some time below it. However, the area continues to attract buyers, and there seems to be some kind of massive buying in the market every time we get close to it. The highs are getting lower though. USD/CAD rose to retest the 1.03 level again this past week, but the level held. The highs on the daily chart are rising, so it appears we could see some significant upward pressure in the pair as the Dollar is the global "safe haven" currency at the moment. GBP/USD finally broke down below the 1.58 area over the week, and looks vulnerable at the moment as the Bank of England talks of possible quantitative easing. The run to the Dollar in general doesn't help this pair rise either. Play video >>
USD/CAD rose again during the Thursday session as the oil markets fell. The move to the 1.03 level for the second day in a row suggests that the pressure is to the upside for a breakout of the consolidation area the pair has been stuck in. With the headline risks out there, it isn’t a real stretch to imagine the Dollar picking up steam at this point. The USD/CHF pair continues to press higher, even after falling during the majority of the session on Thursday. The pair formed a hammer-like candle at the end of the session, and the recent highs are in sight now. The pair looks set to break out soon, and when it does – we should see a larger move higher. Play video >>
The EUR/USD attempted a rally for the Thursday session, only to fall back below the 1.35 level. It appears that the poor bond auctions in the EU are finally starting to catch up with the currency, and that the better than expected number out of the USA are starting to help the USD as well. With this in mind, it looks weak at this point. The 0.85 level looks like it is about to give way in this pair. Considering how poorly the Pound looks against so many currencies, the fact that the Euro is struggling shows real weakness in the common currency at this point in time. Play video >>
USD/CAD had a wild day on Wednesday as the oil markets broke above the $100 level - pushing demand for the Loonie higher, while the markets were rocked by fear of contagion out of the EU - pushing demand for the Dollar higher. With this in mind, we look at the consolidation area. USD/CHF had a fairly flat session as well. However, the pair is trending to the upside at the moment, as as long as the USD is considered a "safe haven", there should be a bid for this pair. We see 0.93 as key to a bull move again. Play video >>
EUR/USD fell during the Wednesday session, and even broke the 1.35 level finally. The pair is facing serious headwinds from Europe, even though it has been fairly strong considering what has been going on. None the less, it looks like we are going down. GBP/USD faces headwinds not only because of the EU and exposure to it, but also because of weak growth. More quantitative easing seems to be on the way for the UK according to comments coming out of the Bank of England on Wednesday. Play video >>
GBP/USD broke through the 1.59 support area on Tuesday, as traders continue to run towards the Dollar for safety. The pair managed to break below the two hammers on the weekly chart, (1.58) and as a result suddenly looks very weak. The GBP/JPY pair continued to fall on Tuesday as the market still wants to buy the Yen. The 120 – 121 area seems to be supportive, so although we are very bearish on this pair – a bounce looks likely. Selling rallies is what we prefer. Play video >>
EUR/USD fell hard on Tuesday as the Italian 10 year bonds spiked to a yield of over 7%. This area is considered to be dangerous to the market, and will continue to push the fear of defaults and the printing of Euros around the market. Because of this, buying the Euro is extremely difficult. However, the 1.35 level still holds as support. We like selling bounces above all else. EUR/JPY has broken the 105 level, and looks set to retest the lows. 104 is causing a bit of a struggle, but the Bank of Japan is fighting a losing battle at the moment. We think this pair continues to fall over time. Play video >>
Create a FREE account