The EUR/JPY pair initially tried to rally during the course of the week, but as you can see the 138 level offered more than enough resistance to push the market back down. As you can see, the 1.35 level is marked on this chart, and I believe that the market is the next massive support level below. I think that the market is probably going to drift lower from here, but it should find plenty of support at the 135 handle in order for a bounce to occur. On the other hand, if we break the top of the range of this past week, that is also a positive sign, probably sending the market to the 142 handle.

EURJPY Week 72014


The EUR/USD pair fell during the course of the week, but still finds plenty of support at the 1.35 level to stay above it. If we can get below the 1.35 handle, I think that the market will more than likely head to the 1.33 handle, but there’s really nothing to suggest that the market will bounce from here, probably heading to the 1.36 handle as we have been very tight lately.

EURUSD Week 72014


The USD/CAD pair tried to rally during the course of the week, but the 1.08 level offered enough resistance to turn the market back around. With this, we pulled back to form a shooting star, but I still see a significant uptrend line that is just below and has been respected several times in a row. There is significant support at the 1.06 level as well, so I think that if we fall here we will more than likely find support at the uptrend line, and I would be more than willing to start buying on a supportive candle. On the other hand, if we break above the 1.08 level, that would of course be a very strong sign as well, sending the market to the 1.10 level.

USDCAD Week 72014


The NZD/USD pair fell hard during the course of the week, showing the 0.88 level to be resistive. The red candle is fairly long, so we think that there could be a little bit more selling pressure to the downside, but ultimately the market has plenty of support all the way down to the 0.85 level. That is the “floor” in the market as far as we can tell, and therefore we would be willing to buy a supportive candle between here and there. On the other hand, if we break above the 0.88 level, this market heads to the 0.90 level.

NZDUSD Week 72014

Related Articles
  1. Chart Advisor

    Bumpy Roads Ahead In Transportation

    Investors are keeping an eye on the transportation industry. We'll take a look at the trend direction and how to trade it.
  2. Investing

    How ETFs May Save You Thousands

    Being vigilant about the amount you pay and what you get for is important, but adding ETFs into the investment mix fits well with a value-seeking nature.
  3. Retirement

    10 Ways to Save Your Retirement: It's Not Too Late

    It's not too late to start saving for your retirement, even if you took longer to start thinking about it and doing something about it.
  4. Investing

    How To Create a Winning Elevator Pitch

    Whether you are talking to potential investors, partners, customers or employees, the skill of being able to concisely summarize your business is critical.
  5. Investing

    Why Is Financial Literacy and Education so Important?

    Financial literacy is the confluence of financial, credit and debt knowledge that is necessary to make the financial decisions that are integral to our everyday lives.
  6. Retirement

    5 Ways to Use Your Home to Retire

    Retirement is going to cost a lot, and for homeowners who face a shortfall, their home can be a source of income. From downsizing to renting, here's how.
  7. Home & Auto

    5 Luxurious Ways to Boost Your Home's Resale Value

    Not all renovations are created equal. Here are five that are most likely to make a property appreciate (and be appreciated by househunters).
  8. Personal Finance

    5 Useless Financial Products That Will Disappear Soon

    Bank deposit slip: what's that? Everyday tools of our financial life that went from indispensable to obsolete.
  9. Investing

    10 Ways to Effectively Save for the Future

    Savings is as crucial as ever, as we deal with life changes and our needs for the future. Here are some essential steps to get started, now.
  10. Stock Analysis

    The Biggest Risks of Investing in Netflix Stock

    Examine the current state of Netflix Inc., and learn about three of the major fundamental risks that the company is currently facing.
  1. Why have mutual funds become so popular?

    Mutual funds have become an incredibly popular option for a wide variety of investors. This is primarily due to the automatic ... Read Full Answer >>
  2. Who do hedge funds lend money to?

    Many traditional lenders and banks are failing to provide loans. In their absence, hedge funds have begun to fill the gap. ... Read Full Answer >>
  3. Do mutual funds pay dividends?

    Depending on the specific assets in its portfolio, a mutual fund may generate income for shareholders in the form of capital ... Read Full Answer >>
  4. How can companies use the cash flow statement to mislead investors?

    Cash flow is a means for most investors to examine the actual economics of a business they might invest in, especially from ... Read Full Answer >>
  5. Can working capital be too high?

    A company's working capital ratio can be too high in the sense that an excessively high ratio is generally considered an ... Read Full Answer >>
  6. Does working capital include inventory?

    A company's working capital includes inventory, and increases in inventory make working capital increase. Working capital ... Read Full Answer >>

You May Also Like

Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!