The XAU/USD pair (Gold vs. the Greenback) rose two days in a row as some investors continued to cover their short positions after the Chinese consumer price index data came out higher than expected.
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The WTI crude market had a very strong showing on Tuesday, breaking well above the $104 level.
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The Australian dollar of course is being hit by the fact that there is a bit of an Asian slow down, and on top of that gold has been absolutely decimated.
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The market has been interesting, simply because the Canadian dollar has been falling in value overall while the value of oil is been skyrocketing.
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So, although it seemed that the strong downwards trend in EUR/USD was ripe for at least a temporary reversal, there has been none lasting any significant length of time.
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According to the analysis of the EUR/JPY and EUR/USD one trader profited on a binary options platform. See how here.
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The Kiwi, as we traders like to call it, (aka the NZD/USD pair) has once again managed to retreat from the 0.7700 area that has been propping the pair up for the last 2 weeks, making the daily chart look like an accordion rippling back and forth.
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According to the analysis of the USD/JPY and GBP/USD one trader profited on a binary options platform. See how here.
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The XAU/USD pair had a positive day as the adrenalin rush of a decision by the Federal Reserve to start trimming the bond purchases wore off.
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I believe that this market is completely overdone considering the situation in Egypt.
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The EUR/USD pair rose during the session on Monday, bouncing off the 1.28 handle yet again.
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I sadly cannot sell this market because of the way the Bank of Japan has been acting, and the fact that the Euro is oversold in general.
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See where pro trader Andrew Keene expects oil to go - your oil signal is only at DailyForex.com.
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USD/CAD tends to be one of the more difficult pairs to predict technically. Nevertheless some clear conclusions can be drawn.
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