Big Moves in the Currency Market

Most currency traders only have their eyes on the “majors” such as EUR/USD, USD/JPY, and the GBP/USD. Admittedly, these are the most liquid currency pairs, but sometimes opportunities could be missed if you are not also looking at the crosses. Trends are usually more powerful in the crosses than the majors and you may not have realized that some currency pairs hit multi-year lows today on an intraday basis:

GBP/JPY: fell to a 13 year low
NZD/JPY: fell to a 7 year low
CHF/JPY: fell to a 6 year low

On the upside:

EUR/GBP: hit a RECORD high
EUR/NZD: hit a RECORD high

Here are pairs that are closing in on significant levels

USD/JPY: 125 pips from 13 year lows (needs to break 90.92)
USD/CAD: 250 pips from 3 year highs (needs to break 1.3019)
NZD/USD: 130 pips from 5 year lows (needs to break 0.5193)
CAD/JPY: 110 pips from 8 year lows (needs to break 71.02)
GBP/CHF: 125 pips from 34 year lows (needs to break 1.7426)

Also on Monday, I indicated that the British pound was headed for 1.45. That target was reached this morning.

About Kathy Lien 235 Articles

Kathy Lien is an Internationally Published Author and Chief Strategist of, one of the world’s most popular online websites for currency research. Her trading books include the highly acclaimed, Day Trading the Currency Market: Technical and Fundamental Strategies to Profit form Market Swings (2005, Wiley); High Probability Trading Setups for the Currency Market E-Book (2006, Investopedia); and Millionaire Traders: How Everyday People Are Beating Wall Street at Its Own Game (2007, Wiley). As Chief Currency Strategist at FXCM, Kathy is responsible for providing research and analysis for DailyFX, the research arm of FXCM. She also co-edits the BK Forex Advisor, an Premium Service with Boris Schlossberg – one of the few investment advisory letters focusing strictly on the 2 Trillion/day FX market.

Kathy is also one of the authors of Investopedia’s Forex Education section and has written for, the Asia Times Online, Stocks & Commodities Magazine, MarketWatch, ActiveTrader Magazine, Currency Trader, Futures Magazine and SFO. She is frequently quoted by Bloomberg, Reuters, the Wall street Journal, and the International Herald Tribune and has appeared on CNN, CNBC, CBS and Bloomberg Radio. She has also hosted trader chats on EliteTrader, eSignal and FXStreet, sharing her expertise in both technical and fundamental analysis.

Visit: Kathy Lien

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