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The USD/CAD continues to show signs of weakness, but is currently sitting above the all-important 0.97 level. THis level must give way if the bears want to continue this trend. The USD/JPY has started to form a very reliable bullish channel, and this video takes a look at it. The central banks are certainly still watching this pair as well. Play video >>
The EUR/JPY fell on Wednesday's trading, but showed real support at the all-important 115 level, an area that has been important for quite some time now. Because of this, it looks like a bullish chart. The EUR/GBP is currently treading water between 0.88 and 0.87. The action on Wednesday did manage a break above 0.88, but only for a few hours. Because of this - we look at it as a scalper's market currently. Play video >>
Looking at the AUD/USD, it appears that the 1.05 area is holding as strong support. In fact, it is also the 38.2% Fibonacci level from the last move higher. The action on Tuesday was very bullish, and a break of Monday's highs could show massive strength in this pair. The NZD/USD is finding support at the 0.78 area, and looks like it wants to go sideways with an upward bias, bouncing around the 0.78 to 0.80 levels. A break lower looks to find the 0.75 area. But as this market is in an uptrend, looking to buy is probably safer. Play video >>
The USD/CAD pair looks to test a massive resistance area in the form of 0.97, which has bent, but not broken so far. It should be noted that the oil markets saw buyers coming in during the late part of Tuesday trading, and this could be strong for the CAD. The USD/CHF also shows potential USD weakness, but the all-important 0.88 level must be broken through first. This videos also looks at the bearish scenario in the USD/CHF at the moment. Play video >>
Looking at the GBP/JPY, it appears that we are rapidly approaching an area where the central banks might be interested in the markets. The 130 area was the site of a massive break out not too long ago - aided by the CBs. Because of this, we are weary of this move. The EUR/GBP looks like it has retested the previous support level for resistance, and has found it. Looking at the chart, we see the potential for further weakness. Play video >>
We are looking at the USD/CAD and NZD/USD pairs in this video for hte upcoming May 17 session. The USD/CAD is currently testing the all-important 0.97 level, and looks like a fair amount of sellers are starting to step in, possibly continuing the overall down trend. We look at the possible signal that is showing up on the charts. The NZD/USD is showing signs of massive support at the 0.78 mark, in the form of a hammer on the daily chart. Looking at it, we see a possible run back to the 0.80 mark in the short-term. Play video >>
The EUR/USD finds itself at a major inflection point now. This isn't surprising as the world worries about Greece yet again. There is talk of restructuring, and it appears the markets are getting more and more nervous by the day. The EUR/USD finds itself retesting support as well as the breakout from a few months ago of a massive trend line. The USD/CHF finds itself retesting former support to see if the sellers will reenter. The 0.90 level seems to be rather important, and the market is certainly taking notice of the area. Play video >>
Looking at the Canadian dollar, we can see that the USD has been gaining as of late. The USD is certainly in a downtrend, and this latest move doesn't change this at all. In fact, we are rapidly approaching an area (0.97) that is offering significant resistance. Because of this, the sellers should be stepping in soon. If not, the pair could reach parity - which will certainly bring the sellers in. This pair is being influenced heavily by the commodity sell off we are seeing now - especially oil. The Australian dollar is currently testing the important 1.05 psychological level, and looks to find its footing at this point. The AUD has been sold off as gold has fallen, but the trend is up and this move doesn't change that fact. Remember, it was just a couple of years ago when we were amazed at the AUD/USD being as high as 0.80! If the .05 gives way, the 1.02 will be the next massive support area. Play video >>
Following the earthquake that devastated Japan, the JPY is showing some signs of recovery vs other cross currencies according to the MACD indicator. Play video >>
How to use the MACD indicator in Forex Trading. Play video >>
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