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EUR/USD had a fairly volatile day on Wednesday as rumors completely took over the financial markets around the world. EUR/CHF had a bearish day, and then bounced - to form a green hammer. This shows that the pair "wants" to rise Play video >>
The USD/CAD pair had a wild day on Tuesday as the Bank of Canada not only held interest rates steady. USD/JPY fell during the Tuesday session, but bounced during the later hours. With the threat of the Bank of Japan intervention, this pair seems to have a tough time getting below the 76 handle for any length of time. Play video >>
EUR/USD found itself going back and forth in a range on Tuesday, but ending the day slightly bearish. EUR/CHF continues to fall, even though the Swiss National Bank is threatening intervention if the markets fall below 1.20, just 200 pips away. Play video >>
GBP/USD smashed into the 1.60 level on Monday, and then fell a bit. GBP/JPY looks like a pair that is finding a slow healthy "grind" upward. Play video >>
EUR/USD rose above the 1.39 level finally, sensing some kind of breakout. However, the 1.409 sits just above, and the move in the later hours of US trading was down. The shooting star on the 4 hour chart suggests to us that the pair will continue to struggle at these high levels. The EUR/CHF pair rose, and then fell for the session, forming a shooting star. The fact that the whole world knows that the Swiss National Bank is willing to defend the 1.20 level, and that there are still people out there willing to short this pair speaks volumes about the believability of the Euro rally. Play video >>
EUR/JPY has been stuck in a tight range over the last 4 days, going back and forth form 105 and 107. The market is currently waiting for the weekend's EU summit to pick a direction. EUR/AUD is sitting at 1.34 currently, and the market seems to be doing the same thing it is in the EUR/JPY pair - waiting. Play video >>
USD/CHF fell on Friday, and looks decidedly weak at this point. However, the Swiss National Bank is working against the Franc's appreciation. GBP/USD has absolutely exploded against the USD on Friday, but faces a serious challenge in the form of 1.60 and the 50% retrace Play video >>
EUR/USD had a bullish week as the trading world sold off the USD in favor of the common currency. The weekend has yet another EU summit, and it appears that traders are trying to get into the market ahead of that. In other words - gambling. The 1.40 area looks very resistive, so we are not convinced as of yet. The AUD/USD pair looks very similar to the EUR/USD and the "risk on" play seems to be in order. However, just like the EUR/USD, there is a massive resistance area just above in the form of the 1.03 to 1.05 area. The USD/CAD pair looks set to retest the parity level again, and the weekly candle looks very bearish. However, the oil markets look set to pullback, and this could make this pair bounce in this vicinity. Play video >>
EUR/JPY produced a hammer on Thursday, after forming a shooting star on Wednesday. This shows that the 105 level wants to hold as support CAD/JPY looks very similar, and we expect it to behave much the same as the EUR/JPY. Play video >>
NZD/USD produced the third doji in a row on Thursday, just below the 0.8000 level. With the EU's meetings over the weekend, the trading world is waiting to see the outcome of these important summits. However, the fact that the Kiwi can't retake the 0.8000 level could show the path of least resistance is down. AUD/USD is a similar chart, with the range being between 1.01 and 1.03 or so. The pair is a "risk on" trade from the long side, and with the recent headlines, it isn't hard to see why it has been "stuck". Both of these pairs look ready to move, but probably won't until Monday morning. Play video >>
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