Dollar Versus Loonie and Franc November 18th

FX Strategy Video > Currency Pairs Analysis

USD/CAD rose again during the Thursday session as the oil markets fell. The move to the 1.03 level for the second day in a row suggests that the pressure is to the upside for a breakout of the consolidation area the pair has been stuck in. With the headline risks out there, it isn’t a real stretch to imagine the Dollar picking up steam at this point.

The USD/CHF pair continues to press higher, even after falling during the majority of the session on Thursday. The pair formed a hammer-like candle at the end of the session, and the recent highs are in sight now. The pair looks set to break out soon, and when it does – we should see a larger move higher.

Published on 17th of November 2011
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