The long-term charts are showing us several different things presently....
The EUR/USD almost looks like it is in a bullish flag pattern, even with all of the EU troubles in the debt markets. The potential S&P downgrade of the US might be a factor in this move, but we are still waiting to see a break of the 1.45 area to go long. If we get below 1.40 - we sell. In the meantime, we are looking for choppy short-term moves at best.
The EUR/CHF continues to fall, and has broken the 1.10 area as investors keep sending their money into Switzerland, and leaving Europe. The pair shows that the EUR isn't necessarily strong, (despite the EUR/USD chart) and that perhaps it is the USD that is so weak.
The USD/CAD pair skyrocketed during the week, and it appears that we will attempt a break out of the 0.98 level, but this pair is certainly in a downtrend. We see nothing to suggest that the trend will change anytime soon.
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