Forex Analysis

Currency strength and weakness analysis based on 4h performance

CHF had a severe reaction to the announcement that the SNB ended its 3 year old policy to shield it from the Euros Sovereign debt crisis and more
JPY, AUD, NZD, GBP, USD, CAD and most of all EUR all dropped after this announcement.

Current daily trends

AUDCAD, trend intact
AUDJPY, trend intact with volatility on the 4h chart
CADJPY, trend intact
EURAUD, trend intact
EURGBP, trend intact
EURJPY, trend intact
EURNZD, trend intact
EURUSD, trend intact
GBPAUD, trend intact
GBPJPY, trend intact
GBPNZD, trend confirmed
NZDCAD, trend intact
USDCAD, trend intact
USDJPY, trend intact

Possible signals

USDCAD, if USD breaks resistance

Most of yesterday’s JPY signals where hit, now it is to sit and wait, if your stops are in a well decided place, as the most currencies started losing some value directly after the Swiss announcement. We will have to see what happens during today and then it is Monday. Most trends are holding strong with the exception of any pair including the CHF.

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