The EUR/USD is a complete mess. Although it looks like a bullish flag is being formed, there is simply too much headline risks out there for both currencies. The "flag" could also be a potential downward channel, and could be bearish. The fact is there are two trend lines that we are watching in order to get a signal.
The EUR/CHF is much easier to gauge, and looks very bearish. The trend is down, and that should be obvious. The 1.18 area was retested, and the daily candle on Friday turned out to be a shooting star - a bearish sign. The pair looks weak, and all XXX/CHF pairs seem to agree.
The USD/CAD pair looks weak - but we also pierced the 0.9450 support level, which of course is a sign of USD weakness. The bounce however, shows that this level is going to be hard to break down. We like selling rallies.
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