Dollar Versus Loonie and Pound March 14th

FX Strategy Video > Currency Pairs Analysis

USD/CAD continues to flop around in a relatively tight range just below the parity level. The pair is very difficult to trade, and is at best a scalper's market. The support levels we see are at 0.99, 0.98, 0.9750, 0.9700.

The GBP/USD pair rose at first during the session, but found itself falling from the highs. The pair reentered the previous consolidation area, but struggled. To us, this looks very weak and suspicious. Because of this, we are very interested in selling the market if we break the bottom of the Monday lows. The breaking of the Tuesday highs has us long - but only for a quick consolidation move.

Published on 13th of March 2012
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