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AUD/NZD has been on an absolute tear over the last couple of weeks, but the Wednesday candle suggests that it could be running out of steam for the short-term. The EUR/AUD looks as if it is trying to form a base at the 1.34 level. Play video >>
EUR/USD rose in the starting hours of the Wednesday session, but got absolutely pummeled as it approached the 1.3850 resistance area. The 1.3850 - 1.40 area is going to be massively resistive, and it looks like the market is getting more and more jittery before the EZ summit over the upcoming weekend. EUR/CHF looked to break out on the session on Wednesday, but failed and formed a shooting star. This pair continues to be supported by the Swiss National Bank below. (1.20) Because of this, we are wanting to buy the pair, but only if the EU summit goes well. Play video >>
AUD/USD had a whippy day during the Tuesday session as China reported lower than expected GDP numbers, sending the pair down - The NZD/USD sits just below the 0.8000 level and formed a long-legged doji as well. Play video >>
EUR/USD had a wild day during the Tuesday session as headlines continue to push this pair around. The EFSF was rumored to be about to get a 2 Trillion Euro boost, but that rumor has been turned around. The resulting candle for the day is a doji, which sets up a simple trading signal. The EUR/JPY pair continues to sit just over the 105 mark, and looks like it is entering a phase of consolidation as traders continue to digest the possible scenarios coming out of the EU over the next several sessions. Play video >>
GBP/USD has fallen with the "risk off" trade coming back into vogue on Monday. GBP/JPY is in a similar situation. Perhaps the 120 will give us clues as to the direction for the pair over the next few weeks? Play video >>
EUR/JPY fell hard during the Monday session, and now threatens the 105 mark. EUR/AUD is a great "risk on" / "risk off" currency pair. The pair will actually rise when there is concern, as the EU is considered "safer" than Australia. Play video >>
AUD/USD rose like a rocket during the Friday session, clearly showing that it wants to run to the upside now. NZD/USD is a similar story, but has even broke the 0.8000 level. This area was big resistance, but only the start of it. Play video >>
USD/CAD fell hard again on Friday, closing at the absolute bottom of the range. However, the parity level is just below, and it was the site of a major breakout. Does this breakout hold true, or does it prove to be a failure? USD/CHF fell again as well. The level below is massively supportive, and so is the Swiss National Bank. With this in mind, we are looking for supportive candles to buy at this point. Play video >>
The EUR/USD pair shot straight up during the previous week, as traders are hoping for a solution to the European debt solution. Any bad news will push it lower from a resistance area that we are currently testing. The NZD/USD looks very similar to the EUR/USD, and is overbought from the week. The pullback should be coming, and any bad news could trigger a landslide. We recently broke massive resistance, and we aren't too far above it to rule out a whipsaw at this point. USD/CAD looks very bearish, but the parity level could come into play very shortly. If it does - we could see some kind of buying at this point. The real question is what's real? The break out, or the break down? Play video >>
The GBP/USD pair fell on Thursday, and even went below the 1.57 level for a time. The USD/CAD pair rose, and then fell on Thursday - forming a shooting star at the bottom of the recent run. Play video >>
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