 The Non Farm Payroll is traditionally watched for clues to the direction of the USD. However, although the USD gained some volatility after the economic releases this morning… |
 The USD appears to be in consolidation or correction mode. The EUR/USD is in correction mode, looking to retrace 50% of the decline since the last Non-Farm payroll release… |
 The USD/CAD was not able to break above channel resistance, and is attempting to top off. The 1.05 is the base for the possible double top developing. The 4H chart shows the reading struggling to go below 40. A break below 40 can invalidate the bullish signal of the RSI… |
 The EUR/GBP rallied past the 0.8320 target set in the August 31st EUR/GBP update. The surge is heading up against resistance at the 61.8% retracement level at 0.8380. It is at 50% at the moment and also testing a declining trendline. Also note that the 0.8400 level is… |
 The USD/CAD is in a range roughly between 1.0150 and 1.07. To be more specific, there is historic resistance at 1.0670. After 2 tests, today’s price action so far heading into the US session, is a reversal candle. If the candle is equal or larger than the previous up-candle, it may signal a reversal… |
 Although the market was bearish for most of the first 2 sessions. The third session this week started pushing up the Euro in the Asian session. This accelerated in the European session. This is not surprise ahead of the Non-Farm payroll. We can expect some lower volatility but after the current swing. |
 This is a follow up to this mornings EUR/USD update, where I was stalking the correction rally. So far the market has held the pair below 1.2740, an important area as I mentioned.It has become a pivot for a decline in the US session… |
 The EUR/USD had a sharp correction rally in the European session but did not invalidate the bearish swing outlook just yet. You can also see the Euro pare losses against the Yen, but… |
 The EUR/USD started the week bearish and slid above 100 pips before sharply rallying in the European session. Yesterday’s video update and EUR/USD article update anticipated a decline towards the 1.2450 area. The bullish swing brought the pairnear 1.2740/50, an important area… |
 The daily chart shows the market finishing a pullback that followed the break below a “naked” head and shoulder. It was naked because it was not confirmed and can actually be a continuation pattern, especially with the RSI staying above 40 since mid-June. An RSI reading that stays above 40… |