EUR/USD
The EUR/USD pair initially fell during the session on Tuesday, but found enough support below to turn things back around and form a hammer. This hammer suggests that the market is ready to go higher, perhaps testing the 1.37 level. We don't think that the market will go much higher than that, as there is a significant amount resistance in that area. In fact, the resistance area extends all the way to the 1.3750 level, and it is not until we get above there that we feel comfortable taking a longer-term long position.
AUD/USD
The AUD/USD pair broke higher during the day on Tuesday, clearing the top of the Monday hammer. We suggested that this market would go higher, and it did exactly that. However, we have a significant amount of resistance between the 0.9450 and the 0.95 handle, meaning that we will have to be very cautious about taking long positions at this point. I daily close above 0.95, we would be much more comfortable going long. Until then, we will look at this market with caution, and keep our trading capital safely on the sidelines.
GBP/USD
The GBP/USD pair initially fell during the session on Tuesday, but found enough support below in order to turn things back around and form a hammer yet again. We have been bullish of this pair for some time now, and that most certainly has not changed after the Tuesday session. The market broke out above the 1.70 level some time ago, and that being the case we feel that the market should eventually find enough upward momentum to continue going higher. Ultimately, we think that the market should go to the 1.75 level given enough time, and perhaps offering plenty of "buy on the dips" type of market between here and there.
USD/JPY
The USD/JPY pair fell during the course of the session on Tuesday, testing the 101.50 level. With that being the case, it makes it appear to us as if there should be a bit of support just below, and we are waiting for that supportive candle in order to start buying again. We recognize that the 101 level is significant support and has been the bottom of the consolidation area for some time now. With that, we feel that the market will bounce, providing a short-term buying opportunity. On the other hand, if we did manage to fall below the 100 area, that would be very negative.

Currency Data for 09th july