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The USD/JPY has broken the all-important 80 mark, a serious support level. It should be noted however that the area hasn't given way completely, and the daily candle looks a whole lot like a hammer. Because of this, we could see a bounce. (Let us not forget the central banks waiting below either!) The USD/CAD continues to grind between the 0.97 and 0.9850 areas. The pair is approaching a major down trend line, and will have to make a decision soon as the range has been too tight and restrictive. Play video >>
The GBP/USD pair looks strong after the Tuesday session, but the 1.65 area lies just ahead. Because of this, we will be watching the pair for clues to either a pullback and consolidation between 1.65 and 1.63, or a break out. The GBP/CHF pair popped on Tuesday, and looks like we may be getting a pullback in which to reload the sell positions. Play video >>
The USD/CHF continues to look weak, even with a slight rise in value on Tuesday. The market sold off in the late hours of NY trading, and it appears that the pair will struggle on any rally. The USD/JPY pair looks weak. However, the 80 level that we are hovering around at the present time looks important, and the central banks are sitting below. This pair is going to be explosive soon - but until then it will be hard to trade. Play video >>
The EUR/USD fell during the Monday session as traders shunned the riskier assets around the world. The 1.45 area lies below, and should be supportive. But we are currently waiting to see if it will prove itself. The EUR/GBP pair has been skyrocketing lately. Monday saw a bearish shooting star form at the 0.89 level, and looks like it is ripe for a potential pullback. Play video >>
The USD/CHF pair rose on Monday, but only to fall in the afternoon during US trading. Because of this, the pair formed a shooting star shaped candle at the bottom of the chart. This shows that perhaps the pair is about to make a new low. The next major target could be as low as 0.80 if we break lower. The USD/CAD pair bounced again on Monday, but still remains below a trend line and major resistance area in the form of 0.9850 or so. The pair is still bearish, but the recent action shows that we are in for a dogfight at these levels. Play video >>
The EUR/USD burst through the 1.45 area, and shows signs of strength as the US jobs number came out so horribly. Also, the Greeks are looking likely to accept more austerity in order to get another round of bailouts form the IMF and EU. The EUR/JPY looks rather constructive as the 115 held as support, and the 117 level has now been breached as well. This is very bullish. The USD/JPY is a complete contrast from the EUR/JPY. This pair has fallen to the 80 level, and as such is testing serious support combined with an area that now included central bank positions. Because of this, there could be a bounce - but buying blindly can get you into trouble here. Play video >>
The GBP/CHF is showing a bullish hammer at extreme lows. This will often signal a potential bounce. HOWEVER - WE ARE NOT RECOMMENDING BUYING THIS PAIR. Rather, the professional trader is simply waiting for another opportunity to sell at a higher price. The GBP/JPY pair looks very bullish as it has printed a bullish hammer at support. The 130 and 131 area is very supportive to this pair, and the central banks are waiting below. Because of this, we are constructive. Play video >>
The NZD/USD pair has formed a second hammer in a row at the 0.81 mark. This is very supportive, and looks like we are set to run higher. The NZD/JPY looks similar, only at the 65 level. The candle isn't as perfectly shaped, but it certainly is showing us that the 56 is an important support level. Play video >>
The USD/CHF barely move during the session, and looks set to fall further. Certainly as long as we are below the 0.85 - the real risk is to the downside. The EUR/CHF bounced nicely on Thursday, but still struggles in general. The 1.24 should continue to be overhead resistance in general and could provide the perfect position for selling - assuming we can get that high. Play video >>
The USD/CAD has formed a perfect shooting star at the most recent trend line, and the all-important 0.98 resistance area. The pair tracks oil - a market that found surprising support at the end of the day. The NZD/USD has broke out, pulled back, and is now looking like it is set to launch. Play video >>
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