Euro Versus Dollar and Franc September 2nd

FX Strategy Video > Currency Pairs Analysis

EUR/USD has broken a "rising wedge" on the daily chart with the recent plunge. But with all of the minor support and resistance areas, this pair has been quite choppy. The Non-Farm Payroll report will more than likely throw this pair around for the session. The pair will more than likely do what it has done over the last several NFP Fridays, bounce around, but close fairly unchanged.

EUR/CHF is a much different picture, as it is approaching the 1.13 level. The 1.13 area giving way to the downside would lead to a fall to 1.10, and then perhaps parity. The pair won't be bought by us until we clear the all-important 1.2000 level - which would signal a massive change in sentiment.

Published on 1st of September 2011
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