Dollar Versus Loonie and Euro October 9th

FX Strategy Video > Currency Pairs Analysis

USD/CAD fell slightly during the session, but in reality had a rather back-and-forth Monday. The 0.98 level continues to be a magnet for prices, and as such we think that consolidation will continue. However, if we can break the lows from the Friday session - we could see sellers reenter.

The EUR/USD pair looks weak. There is a trend line to follow now, and the 1.30 level looks a bit "thick" at the moment, and it looks like the real risk is to the downside at the moment. The 1.2850 level will be important if we get below it - and we would be aggressively short at that point. As for the upside, choppiness should continue.

Published on 8th of October 2012
eTorro - Trading Starts Here

Start Trading Forex with up to $10,000

  • 100s Videos and FX Strategy articles
  • Advice from our FX traders
  • Practive free with using real time