AUD/CAD (+106)

as the oil started marking gains on the market, so did the CAD against most of the currencies. With the downtrend in place it is reasonable to expect the continuation with the wind in CAD back. This play of the simple moving averages tells the story of continuation of the downside for the pair. Previous crossovers of these two mov. aver. resulted in huge moves. Recent move up was stopped at 50 SMA (orange line), and crossover of 100 & 200 moving averages marks the signal for the move lower. Stops should be above 100 SMA and February 26 high 0.9475 , with the MUST close above it to break the downtrend, and profit targets should start at 92.00 and below. Close bellow 92.00 on a weekly chart would open the doors for the move lower.

NZD/CHF (+74)

with the NZD getting the jump start from Nikkei (closed at 11.165 or +2.3%)market clearly favored NZD across the board. NZD gains were from Risk appetite in Asia it took pair out of the "comfort zone" of 0.7665 - 0.7290 that pair was trapped since October. Just as the gains were made, they can be lost, at the same speed, since there were no data from New Zeland or Switzerland. Price action created divergence on RSI, and as the resistance we have on weekly chart 200 SMA what is on 78.05. Stops should start above that level and targets should start at 77.10.

AUD/JPY (+143)

with the market staying resilient toward news from Greece (except eur pairs) we could expect another wave of buying commodities currencies (AUD,NZD,CAD) On 1h chart we can see formation of inverse head & shoulders formation what from technical stand point is bullish formation. With a weekly low of April 3rd, 2010 85.27 serving as a support, stops should be placed bellow (mind the spikes low) Targets should be placed above 87.50 and if taking Head & Shoulders patter for the full effect it should be placed above 88.00
AUD suffered earlier from RBA Gov. Stevens speech what was perceived as dovish (less optimistic speech than it was expected)

NOK/JPY (-2240 pip value 0.01, actual -22)

with risk aversion taking place on the market and oil heading lower, one of the ways to short commodities currencies that is connected with oil is NOK with JPY that traditionally takes role of the safe haven currency. Market are heading lower since Asia, Europe, and US market just opened 0.5% lower. Slow Stochastic are pointing for a move down. Stops should be placed above the recent day highs, and profit targets should start at about 15.300 and lower. Focus should be on movement of the indicies (S&P, DJ, Nikkei 225, FTSE, DAX...) and movement of the oil. Falling equities and lower oil are going in favor of the trade.
Since there is plenty of good news out of Canada, it looks like a safer bet to short NOK/JPY than CAD/JPY

AUD/CHF (-63)

with the recent developments of Greek and Portuguese bonds marking record highs with their German counterpart, all risk & commodities currencies are taking a hit. Last few days copper was marking lower numbers and with combination of falling equities AUD can sustain substantial losses. CHF looks like the bet with smallest stop and biggest profit if risk is to stay at least for a few days. U.S. equities are indicating lower opening what should serve our trade. MACD indicator shows the clearest cases of previous divergences and their results. Stops should be placed above recent highs and targets should start at 0.9750 or at/about 50 simple moving average.

EUR/NOK (-172 pip value 0.14, actual -29)

with the recent retreat of oil from 87.09 highs pair stalled it's continued advance. Euro is still on hold for the "solution for Greece" despite some of the excellent data coming out of the German powerhouse (German ZEW Econ. Sentiment 53.0 vs. expected 45.2)
Aside from that Slow Stochastic and RSI (not displayed because of clarity of graph)are indicating on the divergence on the price. Stops should start bellow it's recent low's of 7.9313, and targets should start at 7.9950 and higher if Euro gains momentum and oil remains under pressure.

USD/JPY (-30)

with strong numbers for USD from Housing Starts 0.63M vs. 0.6 expected and Building permits 0.69M vs 0.63M expected dollar is starting to mark gains on USDX index. USD/JPY made a double bottom and "cemented" the floor so it is ready for the move up, with low risk in case of a failure. RSI indicator is marking a divergence in a price and giving us signal to initiate long position. Support comes in at about 92.57 and recent lows are just bellow that. Stops should be placed bellow 92.45 and targets should start 93.20. University of Michigan consumer sentiment at due at 9:55 E.T. and are expected to be positive 74.7 vs 73.6 so it should provide additional wind for the move higher from fundamental side.