The USD/CAD pair rose on Monday as the Dollar got bought in mass by traders around the world. The “risk off” trade came back with a vengeance, and the USD/CAD rose as a result. The Canadian dollar...
The AUD/USD pair fell during the Monday session and even touched the 1.05 area that we have been watching so closely. The 1.05 level was once massive resistance, and it could now be support. The bounce wasn’t...
The USD/CHF rose during the Monday session as the 0.85 level continues to offer a psychological barrier for the sellers in this market. The pair is the inverse of the EUR/USD quite often, and as a result...
GBP/USD fell hard during the Monday session, but bounced from the 1.60 level – an area that we said could produce support. The shape of the daily candle is a hammer, and this also shows that the...
USD/JPY had an interesting day on Monday. The Bank of Japan intervened in the market, driving prices much, higher. The top of the move was 79.50 or so, and it should be noted that the 80 level...
The EUR/USD pair absolutely fell apart during the Monday session as traders continue to scrutinize the EU bailout plans. The market sliced right through the potentially supportive 1.39 – 1.40 level, and this is a very bearish...
After a lengthy period of jawboning the Japanese Ministry of Finance (MOF) moved to weaken the yen by selling an estimated ¥7 Trn. The timing of the move may have caught the market looking the other way...
Reinforced optimism of the market participants enabled the euro to strengthen against the US dollar last week.
With a heavy news day ahead, many traders are awaiting this week’s data releases before buying into riskier assets, especially with this week’s employment and interest rate focus. With today’s high liquidity, some heavy movement is expected,...
The US Dollar Index is entering historic congestion zone of 74.50-73.40 ranges; short covering may be witnessed in the USD against most of the FX majors. Only on consistent close below 73.00, would reinitiate long-term USD bearishness.The...
