The USD/CHF pair initially fell on Thursday, but turn things back around to form a hammer. This makes a lot of sense though, because when you look at the charts we are most certainly oversold.
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The NZD/USD pair broke down during the session on Thursday after initially rallying. We find interesting about this move is that we actually sliced through the 0.75 handle, an area that I figured would be a bit more supportive than we have seen.
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The USD/CAD pair initially fell during the session on Thursday, but as you can see ended up grinding higher by the end of the day.
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The AUD/USD pair broke down after initially trying to rally during the Thursday session. What I found so interesting about this pair is that we are testing the 0.80 handle.
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Gold prices hit the highest level since mid-August after the European Central Bank announced a more robust than expected quantitative easing program in a bid to revive the moribund euro zone economy.
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The EUR/USD pair tried to break higher during the course of the session on Wednesday, but struggled above the 1.16 level as we gave back about half of the gains.
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Get the USD/JPY Forex signal for January 22, 2015 here.
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Get the USD/CHF Forex signal for January 22, 2015 here.
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Check out the EUR/USD Forex signal for January 22, 2015 here.
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The GBP/USD pair initially fell during the course of the session on Wednesday, but found enough support to bounce and form a hammer.
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The USD/CAD pair broke higher during the course of the session on Wednesday, showing real strength after the Bank of Canada announced a surprise rate cut.
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The USD/JPY pair initially fell during the course of the session on Wednesday, but ended up bouncing to form a hammer by the end of the day.
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The AUD/USD pair fell during the course of the day on Wednesday, testing the 0.81 level. That being the case, it appears the market is ready to continue consolidating which I think truthfully runs from 0.80 on the bottom to the 0.83 region on the top.
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Gold prices settled lower on Wednesday as investors cashed in recent gains after the market failed to breach the $1305 resistance level.
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We are now more than halfway through the first trading week after the Swiss National Bank’s shock announcement sent the CHF up about 15% against most other global currencies. Now that the dust is settling after the chaos, it is worth taking a look at how the CHF is shaping up now against its major pairs.
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