CAD/CHF (+116)

it is obvious that CAD closely tracks oil performance on the market, and since yesterday oil started retreating from it's recent highs. Since US markets close lower yesterday, Asian and European markets followed, and commoditie currencies (AUD,CAD,NZD) tracked lower. Currently CHF stands the most chances to gain from technical perspective. CHF gains could be attributed to profit taking on long position of CAD/CHF, or simply flight to safety of CHF. On a weekly, and monthly chart resistance of 1.0700 is clearly visible, so some profit taking action is expected at this level. RSI divergence is supportive technical indicator for a trade. CAD strength is evident in recent months across the board, so extra caution is advised. Currently oil is the strongest indicator for the pair movement. Stops should be placed above recent highs. 1.0735 and targets should start at 1.0600 and bellow.

GBP/JPY (-123)

chart on 4h timeframe clearly defines head & shoulders pattern, what should produce a bearish move. In adition to that pair is on the 50% retracement level of 143.60 - 132.00 move. It is also evident that 200 SMA is overlaying this congestion of resistance, and as we all know, every trader is looking at the same charts, so at this point it would not be very "safe" to take long position. Pair is in a uptrend on smaller time frames, so extra caution is advised. Set up has a great potential, but it comes at great risk. Stops placement should be clear, and it should start at above "head" or above 139.00, and targets should start at 136.00

CAD/JPY (-48)

pair does not provide immidate reversal, but the bounce of the FIB.(38.2%) retracement proved successful in previous cases. With only few days left in march, JPY repatriation flows become worry of every trader taking long position on this pair (in the short term). Slow Stochastic provide valid entry on a divergence in addition to the FIB. retracemnet. Stops should start above highs (week of Jan 3, 2010)90.61, and targets to start at 89.60, with keeping in mind that in case of falling equities & commodities (oil) gains could be significant on this pair. (weekly chart)

EUR/CHF (+94)

just few hours ago SNB Hilderbrand said in his speech;The Swiss central bank can buy very large quantities of foreign currency to influence the level of the Swiss franc and keep deflation in check". Pair is currently under pressure, so if the SNB is planning to stop appriciation of the EUR/CHF now would be the time. Stops should be bellow 1.4300 and profit targets are extremely hard to determine on intervention from Central Bank, but at least above 1.4490. In previous cases SNB intervention would result in 150+ pips in few minutes, and lately intervention was seen in as little as 40 pips

USDCAD (+79)

with oil, gold, and indices moving lower on european open USD/CAD moves close to 200 SMA. Pair is in the strong downtrend and multiple charts so shorting the pair on a 200 SMA resistance looks like a good opportunity. US markets are bound for a bumpy ride since we have quadruple witching. This happens on the third Friday of every quarter and is the simultaneous expiring of stock index futures, stock index options, stock futures, and stock options.This should not be ignored. Trade is supported with Slow Stochastic divergence as well. Stops should start above 200 SMA and first profit targets to start at 1.0100 and bellow.

CADJPY (+53)

there was plenty of opportunities for the traders to push this pair higher but as we can see that did not took place. Japanese repatriation might been one of the strongest factors why did CAD did not rally against JPY, as it did against the USD. Oil is in upswing for a couple of days now and there is no lack of positive CAD data lately, however we see the pair is topping out. Stops should be clear for this pair- above recent highs 89.60 and targets should start at 88.75.

GBP/USD (-59)

after a good news for GBP (Public Sector Net Borrowing) building up on a yesterday shocker of Claimant Account Change GBP is paving a way to move up from consolidation and recover some of the previous weeks losses. On a technical level trade is supported by Slow Stochastic that are pointing upward and 50 SMA. Stops should be placed bellow recent lows of 1.5251 and profit targets should start at 1.5350 with keeping in mind that this is potentially start of the big move for GBP.