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USD/CAD fell again on Thursday as the oil markets continued to rise. The breaking of the $80 mark in the Light Sweet Crude markets could be significant, but with Non-Farm Payroll coming out today, this move could get reversed rapidly as well. CAD/JPY looks like it is ready to challenge the cluster just above. however, we see the 75 resistance level as pretty serious competition, and should see gains in this pair capped. In fact, we are looking for resistive candles just above in order to short this pair if we get the chance. Play video >>
EUR/USD continued to rise on Thursday as traders react to the possible multinational effort to recapitalize the EU's banks. The "risk on" attitude over the last few days also has helped. However, we feel this move will eventually gives us a chance to sell from higher levels. EUR/GBP rose rapidly on Thursday as the Bank of England announced it was going to expand its bond buying program, signalling more quantitative easing. The reaction lifted the pair straight to resistance, and we feel it will continue to hold. Selling rallies at this point is probably the way to go. Play video >>
USD/CAD triggered a shooting star sell signal on Wednesday as traders bought the oil markets. However, it looks like the 1.03 could give this fall a bit of trouble, as these types of impulsive moves we have seen over the last couple of days hardly ever happen in a vacuum. GBP/USD continues to look like it is trying to build a bit of a base at the current levels. However, it has fallen too far for us to believe this is anything more than a bounce. Play video >>
EUR/USD continues to bounce slightly on Wednesday as traders are starting to react to rumors out of the EU that the banks are going to be recapitalized by several countries. These are just rumors at this point, and let's face it - more can go wrong than right in this scenario. EUR/CHF rose on Wednesday, and looks like it is trying to break out. However, we are not convinced until the EU finds a plan for the debt crisis. Until then - we don't buy this pair, but if and when that day comes - this becomes a long-term buy-and-hold trade! Play video >>
EUR/USD continues to look weak, even if there was a bit of a bounce on rumors in late NY trading Tuesday. The truth is that the failing of the 1.35 level to hold as support was significant, and we see bounces as a chance to sell from higher levels. EUR/CHF has been stuck for quite some time. The SNB is keeping this pair afloat, and the EUR can't be seriously considered a buy until the EU gets it's collective act together. For now, this pair is dead money, but someday - we will get a resolution in Europe, and this pair will become a long-term buy at that point. Play video >>
USD/CAD shot straight up during the Tuesday session, but has fallen back down to form a "shooting star" candle, which of course is a bearish sign. We don't think this is the start of a new sharp fall, but rather a pullback from which to buy....maybe around the 1.03 area? USD/CHF did almost the same thing on Tuesday. The 0.92 handle seems to be attracting sellers, but again - we only see this as a potential correction, not a significant move in the down direction. Play video >>
USD/CHF rose again on Monday as traders continue to buy the Franc. The SNB is willing to sell the Franc if it rises too fast - so the USD is one of the last remaining safe havens out there. As long as their is pessimism in the markets - this pair rises. We buy dips, and expect to see parity soon. USD/JPY is being supported by the BoJ, and we see this pair as a great scalping pair from the long side at the 76 handle. The market will give 40-60 pips if you are patient. Play video >>
EUR/USD continued its fall on Monday as traders continue to sell off any and everything against the USD. The EU is a hotbed of doubt and fear right now, so we see this as a "sell the rally" type of market at this point. AUD/USD followed suit as the USD is without a doubt the currency everyone wants currently. With the global economy in doubt, the demand for commodities should continue to fall, something that works against the Aussie in a major way. Play video >>
NZD/USD fell again on Friday, and is sitting just above the large 0.75 handle. This area should be massive support, but with the global markets being what they are, it isn't a foregone conclusion that the support will hold. AUD/USD is in a similar situation. The Chinese slowing down will crush the value of the Aussie, and if it gets past the Monday lows - we feel this pair falls much farther at this point. Play video >>
GBP/USD had a quiet Friday, but has had serious issues rising above the 1.57 level lately. With the downtrend intact, we feel this pair will continue to fall, and will perhaps make a run at 1.53 before too long. USD/CHF is finding its footing at the 0.90 level. We like buying this pair as there is so much economic uncertainty out there, and the USD is the last "safe haven" currency. The SNB is willing to intervene if the Franc gets too high, so selling isn't possible. Play video >>
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