The USD/CHF barely moved on Wednesday, which we found odd as the stock markets melted down. This is out of character as a lot of the times traders will sell this pair when times are getting tough. Because of this, we feel that perhaps there is a bounce coming in this pair. We won't buy it - we will allow the pair to rise to perhaps the 0.75 level so we can sell at higher levels. A break to new lows gets us selling as well.
The USD/CAD pair rose on Wednesday as the trading world sold of riskier assets. This directly effects the Loonie, and as such we went higher. The pair is already falling in early Thursday morning trading and as such we expect consolidation in this pair for a few days between the 0.99 and 0.98 areas. Until we breka above parity on a daily close - we are net sellers of this pair.
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