Dollar Versus Loonie and Franc July 22nd

FX Strategy Video > Currency Pairs Analysis

The USD/CAD pair managed to break below the all-important 0.9450 level on Thursday, but bounced later in the day as support held. This sets up the market for a clear signal: If we break the bottom of Thursday's doji, we can continue to sell this pair. If we break the highs on Thursday, this just signals that we will get a better price from which to sell. We don't buy this pair as it is so bearish.

The USD/CHF is a completely different story as it looks very weak, and has shown no qualms about making even lower lows in the past. This pair is a freight train southbound, and as such - we sell rallies and new lows. The 0.80 level is below, and it could present a bounce, but that should only be another chance to sell at higher prices.

Published on 21st of July 2011
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