(repost from my site) USDCAD comments for the week of 2014 Jan 13 to 17 Recap Waiting for the breakout paid off. Upside breakout tagged the usual Y+3 target and paused there. After NFP price zoomed to Y+4 and stalled. Closed the week above Y+3 and midpoint. Outlook Multiple week compression gives us this powerful rally. More upside is expected. A drift back to B-0 support is possible but not necessary.
(repost from my site) EURUSD comments for the week of 2014 Jan 27 to 31 Recap Expected more downside last week and it looked like it was about to happen with the bear flag setup into Wednesday. Then everything changed by the eco report. Euro zoomed back up from a dirty bottom giving us the Y+1 target. Y+1 tagged and tried to breakout. It failed. Closed the week below Y+1 and above midpoint. Outlook Just like Cable moved by a statement, euro moved by a report that cannot be trusted at all. It tells us the environment is not stable. It happens when longer term players have very different outlook for the market creating huge consolidation zone that drives the shorter term traders insane. In the case of euro, 1.35 is the official preferred rate as they stated last year while 1.38 is not
(repost from my site) GBPUSD comments for the week of 2014 Feb 3 to 7 Recap A perfect consolidation week. Drifted up to resistance mentioned last week and then dropped down to support. Can