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EUR/CHF continues to fall on Monday, but stopped dead in it's tracks at the 1.10 level for a second day in a row. Perhaps the Swiss National Bank is subtly trying to influence the markets at this point? Or is it that the 50% Fibonacci retrace is at this level? Either way, it has our interest at this point. EUR/NZD look as if the move to 1.7000 is complete after triggering longs on a break of the Friday hammer to the upside. The pair is in a massive downtrend, and any weakness in the 1.7000 area gets us very short of this pair at this time. Play video >>
The USD/CAD pushed higher on Monday, but is showing signs of slowing down at the all-important 0.99 mark. With parity being just above, it appears that the knee-jerk reaction to the Friday Non-Farm Payroll report is a little overdone at this point. The EUR/USD pair continues to fall, but is at a massive support area. With the small bounce we saw in late trading on Monday, it looks as if we could bounce and continue our recent consolidation in this pair. Play video >>
NZD/USD formed a red candle and failed at the 0.85 level on Friday. The pair looks as if it has support at the 0.84 area however, and certainly does below until we get to the 0.80 area. The pair looks like it is trying to pullback, which is a chance to find value in the Kiwi in our opinion. Alternately, we could find ourselves holding at 0.84, and testing the 0.86 level - forming a 200 pip consolidation zone. AUD/NZD has formed a bit of a hammer, and the 1.25 area seems to be supportive. The breaking of the Thursday candle should be a great sign in order to go long. If we can break above the recent highs - we are going much higher. Play video >>
USD/CAD fell hard during the week, but had a massively bullish candle on Friday. The pair moved higher, and is now above the 0.98 level, signalling a return to the consolidation area. The 0.99 area is massive resistance, and parity even more so. The pair can't be bough until we get above that parity level. The pair is a massive sell if we get below the hammer on Friday. USD/CHF formed a massive hammer on Friday, and looks like it is ready to bounce from this level. However, the weekly trend line and the 0.83 resistance area should keep a bit of a lid on the price. If we can get above the 0.83 level - this could be the start of something special to the upside. A breaking of the lows on Friday would send this pair much lower. Play video >>
The EUR/USD pair fell hard during the week, but still finds itself stuck within the 1.45 - 1.40 confines. This pair looks very range bound, and should continue to be until we get some kind of decisive break out of the range. If we break 1.45 on a daily close - it looks like a buy. If we get a daily close below 1.40 - it looks like a sell. Very simple at the moment really. EUR/CHF continues to whip around, and found itself in a 1,000 pip range for the week! The 1.20 level is obviously very resistive, and the 1.10 level is obviously supportive. Until we close outside of this range, we may find this pair very difficult to trade. It should be noted that when a trend changes, it gets quite messy. This is starting to (somewhat) look like that. USD/JPY finds itself being supported at the 76.50 area. The fact that the market is so bearish, and yet this level holds like a rock makes us wonder if the Bank of Japan isn't intervening in a clandestine way? The pair looks flat, and will be a scalper's market for the time being. Play video >>
EUR/USD has broken a "rising wedge" on the daily chart with the recent plunge. But with all of the minor support and resistance areas, this pair has been quite choppy. The Non-Farm Payroll report will more than likely throw this pair around for the session. The pair will more than likely do what it has done over the last several NFP Fridays, bounce around, but close fairly unchanged. EUR/CHF is a much different picture, as it is approaching the 1.13 level. The 1.13 area giving way to the downside would lead to a fall to 1.10, and then perhaps parity. The pair won't be bought by us until we clear the all-important 1.2000 level - which would signal a massive change in sentiment. Play video >>
USD/CHF has broken hard to the downside over the last couple of sessions, and even failed at a downtrend line on the weekly chart. The support level between 0.79 and 0.80 has to be broken to the downside to get in a selling position in this pair. Buying isn't possible until we clear 0.83 on a daily close. USD/CAD fell again on Thursday, but didn't manage to break the low on Wednesday's hammer. This shows that perhaps we are starting to see a supportive area in the neighborhood, and we are waiting until we see 0.97 give way in order to short. We don't buy until we get above the 1.0000 level. Play video >>
NZD/USD rose again on Wednesday, but has formed a second shooting star in a row. This is a very bearish sign, but there is a ton of support just under this level. Because of this, we are not wanting to sell this pair, but rather wait for the pullback to go long. AUD/USD has formed a second doji, and appears that it is struggling with the 1.07 - 1.08 resistance area. Because of this, we may see a pullback. As long as we don't break below the 1.05 level, we fell this could be a buying opportunity. Play video >>
EUR/USD fell for a second day on Wednesday as traders started to focus on EU debt issues again. The 1.4350 area is just below, and has produced a reaction every time it has been approached recently. Because of this, we fell that selling at this point is dangerous, unless we get a daily close below it. A buy order doesn't make sense until we get well above the 1.4550 area. The EUR/CHF pair fell on Wednesday, stopping right at the 1.15 level - an area that has been very resistive recently. The area should hold as support, and if it does - we need to watch the 1.20 level for signs of a break out. The breaking of the 1.14 level would have us selling. Play video >>
NZD/USD finally broke above the all-important 0.85 resistance level on Tuesday, and looks set to continue the bullish stance. The announcement of the Fed extending their meeting in September to two days has people speculating that the Fed will continue to ease. This should be bullish for commodities, and thus - bullish for the commodity currencies like the Kiwi. The NZD/CHF is rapidly pushing at the 0.70 level, and looks like it wants to have a go at it. However, with the massive run up in this market, we don't want to buy this pair. However, we bring it up as it shows just how the "risk on / risk off" trade is going. As long as the NZD/CHF rises - traders will continue to buy risk. Play video >>
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