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Looking at the EUR/USD, this chart is sitting right at the very bottom of support - if it gives, we could see massive selling again in this pair. With all of the problems in the EU, this wouldn't exactly surprise us. USD/CAD has shot straight up over the last couple of weeks, and we feel this is a "buy only" pair at this point. This is especially true now that oil is falling as well. We want to see pullbacks however, as it looks a little overbought at this point. AUD/USD looks absolutely horrible. A break of the lows from this past week signals 0.95, and then 0.93 at least. This currency pair will continue to get punished by any slowdown out of China. Play video >>
NZD/USD rose on Thursday, but fell hard by the end of the session as global jitters continue to rattle the markets. The commodity markets are being beat down recently, and the Kiwi dollar is very sensitive to those markets. Because of this, we think a breaking of the Monday lows could be a longer-term sell signal. AUD/USD is in a similar situation as the NZD/USD. The pair is very sensitive to commodities such as copper and gold, both of which have been absolutely slammed over the last few weeks. With this in mind, we are looking for a sell signal in the form of breaking the Monday lows. Play video >>
USD/CAD rose on Thursday, and fell later. The resulting candle was a hammer-ish candle at the top of the recent bullish move. The 1.03 looks like it wants to be supportive, and the oil markets look weak. This could lead to more bullishness in this pair. USD/CHF is very quiet. Very, very quiet. The SNB is waiting below, and selling can't be done. So what to do? Buy the "safe haven" currency - the Dollar! Play video >>
USD/CAD pushed higher on Wednesday to reach the 1.03 levels. The hammer on Tuesday after a shooting star on Monday shows a classic bounce, then pullback - and then continued move upwards. However, we need to see the highs from Monday broken to the upside in order to buy, with a target of 1.05 at first, and 1.10 later. CAD/JPY fell hard on Wednesday, and is running towards the lows again. However, with the Bank of Japan willing to intervene, you will have to keep an eye on the USD/JPY, as if it falls quickly - the BoJ will intervene. Play video >>
NZD/USD fell hard on Wednesday, and is currently running towards the Monday hammer that saw this pair bounce in the first place. The 0.80 above should prove resistive still, and a breaking of the bottom of Monday's range could set up a long-term sell for the Kiwi. AUD/USD looks very similar, and as such...the trade is almost identical. This makes sense as they are both commodity-related pairs, and the markets for commodities looks absolutely horrible at this point. If you think global economies are about to slow down - this could be a great short in the near future. Play video >>
GBP/USD rose on Tuesday, but gave away a lot of the gains in late American trading. The pair is a "risk on" trade, and with the news coming out of Europe that their is a disagreement on the amount of "hair cut" to be taken on Greek bonds, this could mean trouble for the markets as a whole. With the recent downtrend, we are selling rallies in general, and cannot buy as the move has been so strong. EUR/GBP rose on Tuesday, but fell later - forming a shooting star at the end of a bearish run. This generally shows a proclivity to fall and could be a signal to sell the EUR/USD - not this pair as this can be used for relative strength. Play video >>
EUR/USD rose during the early part of the Tuesday session as the buy signals got fired off. The previous couple of sessions have seen hammers at the 1.35 level, and a breaking of the highs got the bulls active. However, during the later part of the session saw the rally fade as the Euro continues to show weakness. EUR/JPY did very similar things on Tuesday. As it ran up to the 105 level, it failed at the first sign of resistance. The pair still looks weak, and likely to consolidate between 105 and 100 going forward. Play video >>
USD/CAD rose on Monday, only to fall with a pop in the oil markets. This pair is negatively correlated with the oil markets, and the bounce back in the CL contract sent this pair much lower. However, this pair recently broke resistance, and this may simply be a retest of the parity level. We think a break of the Monday lows could send this pair looking for 1.0050 or so. AUD/CAD formed a massive hammer just above the parity level on Monday. The pair should be interesting to watch as they are both commodity currencies. With a break of the Monday highs, we could see 1.0250 tested quickly, and beyond that - 1.04 or so. Play video >>
EUR/JPY saw a massive push back from the EUR bulls on rumors and statements about a massive EU bailout fund to recapitalize the EU banks. This led to a rebound in the Euro in general, and this pair reflected it by the end of the day, forming a hammer. However, the 1.05 level above could prove difficult. EUR/USD fell as well, but also rebounded from lows to form a hammer. This market looks like a bounce is coming, but the 1.40 should be a massive resistance level. In the mean time, we are likely to see a gain in this pair. If the lows get broken - this pair falls rapidly. Play video >>
NZD/CHF isn't a pair we trade often, but what it is great at is telling market sentiment. The fact that the pair presently sits right at the 0.70 level, and closed at the absolute bottom of the daily range against the Franc (a currency that is actively being devalued) tells us that the Kiwi is in an absolutely dreadful state. NZD/USD confirms this as it closed the Friday session at the lows, and one gets the idea that it would have fallen farther if it had more time. A bounce could be coming off of minor support at the 0.77 level, but this currency pair looks sick. Play video >>
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