The USD/CHF pair broke above the hammer from Thursday during the Friday session as traders continue to buy Dollars. The SNB is working against the Franc, and the Dollar is bought up as fear enters the market. This is a perfect example of a trade that makes sense if you are buying.
The USD/CAD pair fell again on Friday, but got a nice bounce to form a hammer right at the top of the parity – 1.01 support line. To us, this could signal a nice bounce coming if we can get a break above the highs from the Friday session.
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