Of the currencies likely to be in focus this week, I really did not expect the week to start with a further move lower for the Loonie (and the Canadian economy) which have both been badly affected by falling oil prices (USO, quote) .
The EURUSD pair initially fell during the day on Tuesday, but found the 1.10 level to be supportive enough to turn the market back around.
The AUDUSD pair broke higher during the course of the day on Tuesday, but still has plenty of noise just above, not to mention the fact that we have a ceiling at the 0.75 level at the moment.
The EURUSD pair rose during the course of the day on Monday, breaking well above the 1.10 handle, and testing the 1.11 level.
The AUDUSD pair initially tried to rally during the course of the day on Monday, but turned back around somewhere near the 0.7350 handle.
The AUDUSD pair fell slightly during the session on Friday, but as you can see bounced a bit in order to form a hammer like candle.
The EURUSD pair initially fell during the course of the session on Friday, but found enough support near the 1.09 level to turn things back around and form a hammer.
For silver investors, and those who rushed headlong into buying when silver prices hit the $50 per ounce price point, it is perhaps the monthly chart which makes depressing reading, with the meteoric rise now reflected in an equally dramatic fall, and mirroring what has happened which in the price of gold.
The GBPUSD pair initially rallied during the session on Thursday, testing the 1.57 region. However, we sold off rather drastically and crashed into the 1.55 handle.
The EURUSD pair rose during the course of the session on Thursday, slamming into the 1.10 level.
