EUR/USD
The EUR/USD pair broke down significantly during the course of the week, and specifically Friday as the jobs number out of America was much better than anticipated. Because of this, and the fact that we have broken the back of both a hammer and an uptrend line, I believe that this market continues to offer selling opportunities every time it rallies on the short-term chart. I have no interest in buying this market at this moment, as it looks like we have made up our minds collectively speaking.
USD/CAD
The USD/CAD pair broke higher during the course of the week, clearing the top of the shooting star from the previous week during the Friday session. With this, I believe that we continue to go much higher and eventually reach the 1.35 level. It is possible that we break above there relatively soon, and that would only be even more of a bullish sign as far as I can see. I have notched in selling as I see a significant amount of support all the way down to the 1.28 handle below.
AUD/USD
The AUD/USD pair initially broke down after initially trying to rally during the course of the week. The resulting candle is a shooting star sitting just above the 0.70 handle. This is an area that caused quite a bit of support previously, so I am not ready to start selling yet they do recognize that we make a fresh, new low, the Australian dollar may very well find itself heading towards the 0.65 handle over the longer term.
GBP/USD
The GBP/USD pair broke down during the course of the week, slicing through an uptrend line. Because of this, and the fact that we are testing the 1.50 level now, I recognize that we do have some serious questions asked at this point in time. If we can break down below the 1.50 level, I feel that we go lower but it will be volatile. Any bounce at this point in time has to be looked at with suspicion, and I would be a seller of signs of exhaustion.
