Dollar Versus Loonie and Euro August 23rd

FX Strategy Video > Currency Pairs Analysis

USD/CAD had a bullish session, but once the Federal Reserve minutes were released it turned around. As the FMOC look like it has plenty of members willing to ease if the economy worsens, the Dollar got beat up a bit. However, this pair looks messy at the moment, and consolidation may be the next move.

The EUR/USD pair shot straight up after the minutes were released, but the pair remains stuck in the rising wedge at the moment. Also, there is a lot of noise all of the way to the 1.27 level. Because of this, we are avoiding longs at this point, but would fancy a sell signal should it appear in this vicinity.

Published on 22nd of August 2012
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