The pair closed the week at 1.3037 rising from 1.2887 for the week and in the process gaining around 1.2%. The pair was indeed highly volatile with sudden moves up and then sudden move down, at times not related to any event! Nevertheless the pair too was caught in the risk off mode which saw USD weakening. Such theme might continue next week too if there are big political moves and geo-political ones!

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A relief for this pair from the continued losses as it held on to the price and did not decline further. What subsequently happens remains to be seen? A FED hike next week might push the momentum upwards and USD would benefit which can continue to go higher barring any other shocks in the economy. But given continued soft data’s coming from USA the gain would not be too much!

A healthy gain of around 1.15% is very good backed by decent data’s coming from Australia and mixed & poor data’s from USA. As of now USD is weak but can’t rule out it’s bounce back soon as the FED is on the course to rate hike and RBA also does not wants stronger AUD. May be this pair might go to around 0.8000 max in the near term and then go on a downward slump! But as usual nothing is certain.

The pair opened at 0.7606 and ended at 0.7828 with a gain of a whopping 3%. Now this is what is called as a massive gain. Those who bet against USD or were in favor of AUD last week were suitable rewarded. Looking forward there are some economic data’s from both Australia and USA, with the former being the employment data and the latter with some tier 2 data.

Data wise it was light week for NZD though for USD it was a big with Yellen’s testimony, couple of FED speakers and economic data which disappointed. So it was more or less USD moves last week though this pair was also caught in the cross fire of other pairs too. Moving forward there is nothing much next week in either New Zealand except CPI data or USA.

The pair opened at 0.9639 and closed at 0.9636, so nearly flat by closing at the same price when it opened at the start of the week! This is some sort of achievement for USD as it was getting attacked in all major pairs like EUR, GBP, CAD, AUD, etc. Traders are aware of the fact that SNB is active in the CHF pairs especially USD/CHF so they can try to buy the dips at appropriate levels.

The week ended at 112.53 from its start at 113.91 with a loss of around 1.20%. So it was not a good week for USD bulls. Looking ahead we have BoJ interest rate decision next week which is going to be main theme for this pair and it might go either way depending on how BoJ projects its statements and how the market follows it! So certainly an action filled week ahead.

A gain of nearly 1.70% is excellent given that the GBP was on back foot for some time though trying to put a brave face. If the data from UK continues to come up good and there is smooth Brexit negotiation then the GBP might even fly but that is not an overnight thing which will surely take months but for the near term the risk is to the upside!

EUR/USD this week was very steady without moving to any direction in major way; it will be interesting where it opens up in coming week. We just need to make sure we enter at right time in order to gain. It looks good opportunity to go for short here, as confirmed by SAR indicator as well.