The EUR/AUD is currently retesting 61.8% support near 1.837 in what could be point C of an emerging butterfly pattern which is projected to complete near previously established resistance near 1.8583.

Prices are closing in on an exceptional amount of bullish Fib pattern convergence....

There is a bearish Gartley and double top forming on the AUD/JPY.

Potential strategy: Buy NZD/JPY (we're long at 54.36) risking 53.60 targeting 56.26 (T1) and 56.93 (T2).

The rapidly declining CHF/JPY may be approaching short to medium-term support as prices approach bullish pattern completion near daily bull trendline support.

The euro sliced through the 1.3000 level while the pound dropped below 1.4600 in early European trade as concern over ECB policy actions and some risk aversion flows in European equities weighed on high beta currencies at the start of the week. Comments over the week-end by ECB chief Jean Claude Trichet suggested that the central bank may lower rates by another 25bp to 1.00 percent while ECB Executive Board member Lorenzo Bini Smaghi said the bank’s benchmark 1.25 percent interest rate is “very close” to its floor.

A double bottom has recently completed near 56.00 as prices retest bullish Gartley pattern completion...

Room Down to Critical Support, Potential Buy at 1.1876 on multiple bullish pattern completion...

Prices are currently re-testing intraday lows presenting an excellent risk/reward buying opportunity

The EUR/GBP is on the cusp of a medium-term bullish break-out as prices come off bullish Gartley pattern completion at daily trendline support.

Short positioning discussed as a break below key NZD/USD support near 0.56 may trigger further near-term losses

Monday's anticipated EUR/CHF buy near 1.52 was triggered overnight and has recently knocked out initial profit target (T1)...

The USD/JPY may have found a temporary bottom...

We examine our winning EUR/CHF trade that was posted last night.

An update to yesterday's GBP/USD short as initial target of 114 pips achieved.

The EUR/USD dropped through the 1.2500 barrier in early Asian trade after weaker than expected Australian GDP numbers triggered a dollar rally taking out stops at the key psychological level. The 1.2500 barrier was heavily defended by option sellers over the past few days, but once the level broke EUR/USD quickly tumbled to 1.2457 before yet more option related defensive buying ahead of the 1.2450 strike propped up the pair.

A dip down to key support near 1.38 may trigger a high probability, short-term buy...

Today's aggressive sell-off faces it's first test at converging Fibonacci support near 1.4150...

USD/CHF plummets 100 pips hitting T2 on the pip, but will sell-off continue?...

The minutes of the Monetary Policy Committee meeting revealed that the Bank of England voted unanimously to support quantitative easing as authorities attempt to employ every policy tool at their disposal to stimulate the moribund UK economy. The MPC also voted 8-1 to lower rates by 50bp with David Blanchflower once again reaffirming his dovish stance by opting for a 100bp cut.

There is strong convergence of independent support levels suggesting strong support may be ahead for the USD/CAD.

A GBP/NZD rally to 2.7770-2.8000 could trigger a high probability sell opportunity...

Further losses anticipated for the EUR/USD....

Long term bullish pattern is emerging on the USD/JPY.

A 300 pip nose dive has sent the USD/JPY right back down to major support just above 87.00 completing a solid double bottom formation.