Dollar Versus Loonie and Pound June 5th

FX Strategy Video > Currency Pairs Analysis

USD/CAD struggled a bit during the session on Monday as the oil markets found a bit of a bid. With the overbought condition of this pair though - it couldn't have been a big surprise to many. With this in mind, we still believe in the bullishness of this pair, but are waiting for a pullback to the 1.03 level with supportive candles to buy from.

GBP/USD looks a bit weak, and with the ratings agency Egan-Jones downgrading the UK during the late hours on Monday, there is a real chance this pair under performs the others.

Published on 5th of June 2012
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