USD/CAD fell during the session on Monday as the overextended nature of the rally demanded. Quite frankly, this pair had run straight into a brick wall of resistance at the 1.03 level. The oil markets need to give way in order for the rally to continue, and quite frankly - we expect that sooner or later.
USD/JPY had a relatively quiet session on Monday, falling as well but bouncing at the end to form a hammer. This pair is currently in consolidation at this major junction, and we think a big move could be coming soon. The Friday Non-Farm Payroll numbers out of America should be pivotal in this market.
Create a FREE account