Dollar Versus Loonie and Franc October 5th

FX Strategy Video > Currency Pairs Analysis

USD/CAD shot straight up during the Tuesday session, but has fallen back down to form a "shooting star" candle, which of course is a bearish sign. We don't think this is the start of a new sharp fall, but rather a pullback from which to buy....maybe around the 1.03 area?

USD/CHF did almost the same thing on Tuesday. The 0.92 handle seems to be attracting sellers, but again - we only see this as a potential correction, not a significant move in the down direction.

Published on 5th of October 2011
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