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I already forgot this gap down since the last British referendum. Succeeding gap due to flash crash was filled immediately. However, this June 2016 gap was the longest gap I've seen (to my recollection) in FX market before it was filled.

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Bank of Canada said there is no predetermined path for Canada interest rates and they won’t be mechanical on rates because inflation and wage growth is slower than they anticipated. So they plan to proceed cautiously which basically means that there will be no rate hike in October and a lower chance of tightening in December. The BoC is not happy with the rise in...

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A. Since the double-bottom, the market is forming higher highs and higher lows B. Double-top forming C. Bearish Engulfing D. Uptrend formed (Higher high, followed by higher low) E. SMAs 20&100 show is sloping up suggesting an uptrend. In summary: Since January we have seen a growth on GBP currency and on a mid-term time frame, I see uptrend. But on a longer time...

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On D1, the market type is sideways starting May 19th. Last week charts shows less activity but the price has started to plot below the 20 daily moving average which indicates a possible shift of momentum. With numerous major risk events for both EUR and USD currency, it is high likely that the market will breakout from the current range between 1.1282 and 1.1110.

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On D1, after the strong bullish run until the month of May, the market went on sideways which is a typical behavior. After the false break last June 15 which also formed a bullish engulfing, the market has steadily climb and is continuing to climb since last Friday. With all the risk events for EUR this week, there is a possibility that the market will go out...

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The bullish trend line is still intact indicating a bullish continuation. However, last week activity is less volatile compared to previous weeks which suggests that the momentum weakening. One thing to note is that the last candle formed last Friday shows that the bulls won the day that exhibits a long wick. A possible retest of the recent high at 0.8852 is...

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Sideways, last week’s market has respected a strong major support level at 1.4723 area. On D1, the market is in sideways after a strong bearish move. If the price stay between 1.4901 and 1.4723, we will continue the current sideways move which is typical market behavior after a strong bearish move ends or halt.

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If the price bounce off 1.4850 area followed by a bearish confirmation candle, it is a good sell limit entry with TP at recent lower high at 1.4626

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The market has created a new higher high and bounced off from 0.75377 area. The last trading shows Aussie strength which formed a bullish engulfing pattern indicating a strong bullish continuation pattern. The market may retest the recent high at 0.7618 area.

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Current price is at 1.0365 area where it act as a major support level which has been tested several time and price bounces. A bullish evidence formed during the week will give a strong bullish run but a break below 1.0365 will potentially drag the price down to 1.0231

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Bias on long but cautious since there are no major risk events for both currency. A pull back at 0.7283 (50% Fibonacci retracement) followed by a bullish confirmation candle (on D1), signals a possible bullish measured move towards 0.7550 If the pull back occurs at 0.7206 (23% Fibonacci retracement) followed by a bullish confirmation candle, signals a possible...

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Sideways. Resistance level at 97.7 and Support level 96.58

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From a longer time frame (W1), the pair is in uptrend where it is making higher highs followed higher lows. Currently, the market is probably in a retracement or pull back and may have just touched the trend line support. If the short term uptrend is not broken, the market may retest the 1.35380 - 1.35680 resistance zone. A break below 1.33820 level signals the...

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The yen and the greenback were the strongest currencies last week and may continue. However, for this week we see more risk events for USD. This pair will primarily be driven by figures from USD related data. With NFP, Ave Hourly Earnings and Unemployment on Friday in addition to second tier 2 risk events for USD, we see more bias on the dollar than the yen.

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Looking for the recently formed bearish momentum to continue. A rapid increase in the market usually followed by either wide sideways movement or rapid decrease of the price level. In this case, we might be seeing a wide sideways movement considering that the price is moving in a triangle pattern from a bigger time frame (W1).

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A break below 1.27729 will bring back the pair to an old box range where it stayed since October of 2016 until last month. A bearish candle formed below 1.27729 on a daily time frame suggests that we will be seeing a continuous downtrend for this pair. This may continue until the UK Election. If the result of the lone major risk event (Manufacturing PMI) for...

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A market that rapidly increase typically followed by rapid decrease or sideways movement. Now that we have seen a sign of weakening, we are possibly seeing a retracement. In addition, we only see 1 major risk event regarding EUR and if the speech of Draghi will be dovish, we just need to monitor what will happen to the greenback.

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The Dollar Index regain strength and this week's risk events may play a big factor whether it will continue to go up or down. The biggest risk event this week will be: www.forexfactory.com 1. Draghi's speech on Monday 2. Kiwi's Financial stability report and Loonie's GDP on Wednesday 3. Pound's Manufacturing PMI and greenback's ADP on Thursday 4. and the trio...