Dollar Versus Loonie and Euro August 9th

FX Strategy Video > Currency Pairs Analysis

USD/CAD saw an extension of the bearishness on Wednesday as the bottom of the down trending channel was broken by the sellers. This should lead to accelerated losses for the pair, and the 0.97 level now looks to be the "line in the sand" for the buyers at this point.

The EUR/USD pair fell most of the session, but by the end of the trading day saw a hammer being printed. This shouldn't mean much over time though - there is still a ton of resistance above until we clear the 1.27 level.

Published on 8th of August 2012
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