Loonie Versus Dollar and Yen October 7th

FX Strategy Video > Currency Pairs Analysis

USD/CAD fell again on Thursday as the oil markets continued to rise. The breaking of the $80 mark in the Light Sweet Crude markets could be significant, but with Non-Farm Payroll coming out today, this move could get reversed rapidly as well.

CAD/JPY looks like it is ready to challenge the cluster just above. however, we see the 75 resistance level as pretty serious competition, and should see gains in this pair capped. In fact, we are looking for resistive candles just above in order to short this pair if we get the chance.

Published on 7th of October 2011
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