The GBP/USD pair initially tried to rally during the course of the day on Monday, but found the area near the 1.57 level to be a bit too resistive to continue going forward.
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The AUD/USD pair initially fell during the course of the session on Monday, but did find a little bit of support near the 0.7350 level. At this point in time we bounced enough to form a hammer of sorts, which means that there are buyers.
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The USD/SEK pair initially fell during the course of the session on Monday, but found enough support near the 8.50 level to turn things back around and form a hammer.
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The EUR/CHF pair initially fell during the course of the session on Monday, testing the 1.08 handle. That being the case, the market bounced enough to form a hammer, and that of course looks like it’s ready to go higher.
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The AUD/NZD pair fell rather hard during the course of the session on Monday, as the markets continue to chop.
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Gold prices edged slightly higher on Monday, helped by weaker-than-anticipated U.S. manufacturing data and concerns over the implications of China's currency devaluation, ending the day at $1117.31 an ounce.
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The EUR/USD pair initially tried to rally during the course of the day on Friday but found the 1.12 level be a bit too resistive. Because of this, it looks like we’re going to continue the overall consolidation that we have been in for some time.
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The EUR/GBP pair initially tried to rally during the session on Friday but drifted a bit lower. In fact, we broke down below the bottom of the hammer from the Thursday session which of course is a somewhat negative sign, and as a result I believe that this market will continue to go lower.
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The USD/CAD pair initially fell during the course of the session on Friday, but found enough support near the 1.30 level to turn things back around and bounce significantly.
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