Loonie Versus Dollar and Euro November 30th

FX Strategy Video > Currency Pairs Analysis

USD/CAD initially fell hard on Tuesday, and even managed to break below the 1.03 support level. However, as the oil markets ran into resistance in the later hours of the day, the pair bounced back above the level and formed a bullish hammer.

The EUR/CAD pair looks ready to roll over at this point. It has been range bound over the last several months, and it appears we are heading back towards the bottom again.

Published on 29th of November 2011
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