Dollar Versus Loonie and Franc September 5th

FX Strategy Video > Currency Pairs Analysis

USD/CAD fell hard during the week, but had a massively bullish candle on Friday. The pair moved higher, and is now above the 0.98 level, signalling a return to the consolidation area. The 0.99 area is massive resistance, and parity even more so. The pair can't be bough until we get above that parity level. The pair is a massive sell if we get below the hammer on Friday.

USD/CHF formed a massive hammer on Friday, and looks like it is ready to bounce from this level. However, the weekly trend line and the 0.83 resistance area should keep a bit of a lid on the price. If we can get above the 0.83 level - this could be the start of something special to the upside. A breaking of the lows on Friday would send this pair much lower.

Published on 3rd of September 2011
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