Dollar Versus Loonie and Euro September 5th

FX Strategy Video > Currency Pairs Analysis

USD/CAD fell during the session, but did get a bit of a bounce in the end. The candle looks somewhat like a hammer, and is just above massive support at the 0.98 handle. In fact, this is the bottom of a much larger consolidation zone that goes all the way to the 1.04 level. Because of this, we are very interested in where the next 100 pips lead us.

The EUR/USD pair failed to break above the 1.26 level again on Tuesday, and now looks vulnerable. The Mario Draghi speech later today could cause a lot of volatility, and as such we are interested in shorting this pair as long as we stay under the vital 1.27 level.

Published on 4th of September 2012
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