November 21st Long-Term Charts

FX Strategy Video > Currency Pairs Analysis

EUR/USD slammed down into the 1.35 level again this past week, and even managed to spend some time below it. However, the area continues to attract buyers, and there seems to be some kind of massive buying in the market every time we get close to it. The highs are getting lower though.

USD/CAD rose to retest the 1.03 level again this past week, but the level held. The highs on the daily chart are rising, so it appears we could see some significant upward pressure in the pair as the Dollar is the global "safe haven" currency at the moment.

GBP/USD finally broke down below the 1.58 area over the week, and looks vulnerable at the moment as the Bank of England talks of possible quantitative easing. The run to the Dollar in general doesn't help this pair rise either.

Published on 18th of November 2011
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