Dollar Versus Loonie and Pound October 11th

FX Strategy Video > Currency Pairs Analysis

USD/CAD fell on Monday as traders bought the oil markets. The falling of this pair isn't a big surprise because of this, and to think that the pair would do any different would be difficult. However, we think that the 1.02 - 1.03 level should continue to be supportive and are willing to buy supportive candles.

GBP/USD rose as well, but fell short of breaking out of its consolidation area, marked by the 1.57 level on the top. The breaking of this area would be bullish - but the 1.59 - 1.60 area should be resistive as well. Because of this, we are selling rallies.

Published on 10th of October 2011
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