We are certainly in tumultuous times in all markets at present. I would suggest this condition will continue for some time. Weeks months or even years. We are witnessing the most volatile period in financial markets in our lifetime. This allows for greater swings in markets, producing many more opportunities than normal while also increasing the risk. In times like this more than any other, use good sound money management and only expose a very small margin of your account at one time. 2% or less in a very good rule.

This week, I present the EUR/USD and GBP/USD in 4 hour chart frames. This allows for a better view of the current patterns. Both are in a range that when broken should produce a very strong move.

The USD/CAD this week has appeared to have topped medium term. Now attacking it's monthly support, a break might produce a revisit of Par (1.0000) or lower. Watch that barrier at $1.0416

The EUR/JPY is of course reacting to the risk reduction with the Fed. Bail-out. A move up is expected. What I would be watching for however is a sudden reversal at the Carry-Trade does not like these very volatile conditions and when things turn again we may see a further very violent unwinding.

 
Cheers and good trading,
Pierre