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The AUD/NZD pair has retraced the down move that happened when we broke the 1.25 support level. Because of this, we are becoming more and more convinced that the pair is trying to continue the uptrend at this point. The 1.27 is the next level of resistance, and is just above. If we clear that on a daily basis - this pair goes higher. The AUD/USD has bounced over the 1.05 level. This level was considered to be a massive resistance area, but has given way on the Wednesday session. This pair looks like it wants to climb to the next resistance area, 1.0750. Play video >>
The GBP/USD pushed higher on Tuesday as the cable continues to get a bid. It is approaching the 1.65 area, and could face a large amount of resistance in the region. The pair does look bullish, and the most recent low didn't make a new low either - but anticipating this move could get you hurt. We are waiting to see if the daily candle closes above 1.65, and if it does - we are very bullish until roughly 1.68 or so. The GBP/CHF pair broke through the 1.30 area on Tuesday, and even broke the top of a shooting star in the process from Monday. However, with the Swiss National Bank making announcements as to their intentions to devalue the Franc on Wednesday, only fools rush into this pair right now. True, it looks very strong technically - but there is simply too much headline risk at the moment. The wise trader waits to see the reaction to this announcement, and then places the trade. Play video >>
The AUD/USD fell on Tuesday, only to bounce back up and form a hammer. Now we have to ask questions of the 1.05 area - and we could see those questions get answered on Wednesday. The closing of the daily candle above 1.05 would be very bullish as it confirms the hammer being a buy signal. However, if we break the lows of the hammer - it becomes a "hanging man" - a very bearish sign. The AUD/NZD is currently testing the 1.25 to 1.27 resistance area, but looks like it isn't ready to break above. The 1.27 giving way would have this pair skyrocketing yet again. The pair looks like it will give us a signal soon, as the area is the right spot for it. If we get a bearish candle will follow through in this area, we are net sellers for the long-term. If we get a break of 1.27 - we will buy. Play video >>
The USD/CAD fell hard on Monday as the oil market rose. This pushes demand for the Loonie, and as such pushes this pair lower. The 0.98 mark is where we stopped, and it looks like an area that could give us some issues. However, the trend is down, and we like going with the trend. If this area gives way, we go much lower. Look to the $90 mark in the CL contract as your guide. The USD/CHF pair rose again as traders ran from the talk of a currency peg out of the Swiss National Bank. The 1.15 area proved too strong on Monday, and we formed a shooting star. If we break the lows of that candle form Monday, we go down to 1.10 and possibly lower. If we break the highs - we search for 1.18 and then 1.20 as well. Play video >>
EUR/USD continues to rise on Monday, but the pair is in a holding pattern until the notes and announcement from Sarkozy/Merkel meeting are released. The pair have to find some kind of solution to the European debt issue, and if they don't - this pair will get ugly in short order. However, if they do, we could see a rise above the 1.45, which would signal a flag-based move to 1.65 or so! The EUR/CHF pair rose to the 1.15 mark as there is talk of a currency peg by the SNB. However, the pair failed to break through, and now looks weak at these lofty levels. A break of Monday's lows could send this pair to 1.10 in a matter of hours. Play video >>
The AUD/JPY seems to have found a backstop in the form of the 77 level. The pair is backstopped mainly because the Bank of Japan recently intervened, and the world is on edge about buying the Yen much lower as the BoJ has made it clear that it is ready to do it again. A break over 80 could see this pair run to 84.25 or so in the next few days. The EUR/AUD had a nice bounce, but is starting to look very tired at these levels. The bug figure has held, and now we are looking more and more like an island reversal. This is rare, and a deadly accurate signal if it can happen. None the less, we feel that this pair has some downside potential. Play video >>
The NZD/CHF is presently rising as the world continues to shed fear and buy risk. This shows that the pair should continue to accelerate if we can break ever so slightly higher. The bounce we have seen has been fantastic so far, and it shows that confidence is coming back into the overall markets. The EUR/NZD looks like it is set to fall from the levels it sits at presently. The pair had a good bounce, but it was counter-trend, and therefore was always going to be suspect. With the 1.75 resistance area holding, this pair looks set to continue its downtrend. Play video >>
The EUR/USD could potentially be a flag. A bullish one at that! This videos shows how this is being formed, the levels that we need to watch, and the potential target, which sounds really high. But hey - I can remember when the EUR/USD being at 1.20 was out of the question! The USD/CHF pair looks very strong suddenly, and the weekly hammer shows we could continue to bounce. 0.80 is certainly a real possibility as the Swiss are starting to talk about pegging the Franc to the Euro. The SNB has a meeting this week, and it could move this pair wildly. The NZD/USD looks like it is ready to push even higher. The weekly hammer shows that the demand for the Kiwi is still out there, and that the 0.80 area is a massive support level that refuses to give way so far. Play video >>
The AUD/CAD pair has recently bounced from a hammer on Tuesday as it runs higher. We feel that this could be the start of something special, and especially so if we can close above 1.03 on a daily candle. We certainly are not interested in selling at this area anymore, as the support is so evident. The AUD/USD pair finds itself in a consolidation area between 1.01 and 1.04. The pair will have to contend with the 1.05 area as well to the upside, and parity to the down side. Because of this, we feel this market will be choppy and sloppy as range bound trading could continue. We become larger buyers above the 1.05 mark. Play video >>
The GBP/CHF shot straight up during the Thursday session as a member of the SNB was quoted as suggesting that a peg to the Euro is one possibility to help stem the rise of the Franc. Of course, this isn't a policy decision, and it isn't official business, so one feels that it is only a matter of time before we see a continuation of the selling pressure. We are currently eying between this area and 1.25 as an excellent place in which to sell if we get bearish action. The EUR/CHF pair is doing much the same move. The level that we are approaching is the 1.10 area, and we feel that any bearish action will be sold and sold hard. The trend is still down, and will continue to be so for the foreseeable future. Play video >>
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