August 6th Long-Term Charts

FX Strategy Video > Currency Pairs Analysis

AUD/USD had a bullish week as it finally cracked the 1.05 level. This bodes well for the Aussie, and it now looks like the floor in this pair can be found at the 1.03 level. Going forward, buying the dips will more than likely be the way to go.

The EUR/USD pair had a bullish week as well. However, even with the hammer on the weekly chart - we need to recognize that there is a ton of resistance all the way to 1.27 in this pair.

The USD/CAD pair fell a bit during the week, but is currently sitting on support at the parity level. This pair shouldn't be much of a play at the moment.

The USD/JPY pair formed a hammer for the second week in a row at the 78 handle. Could the Bank of Japan be at work?

Published on 4th of August 2012
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