November 7th Long-Term Charts

FX Strategy Video > Currency Pairs Analysis

NZD/USD fell back below the 0.8000 level over the past week, but did print a hammer on the Friday close. The pair looks like it wants to try to break out to the upside again, but the 0.8000 area has been massive consolidation. We expect more.

USD/CAD busted back through the parity level, and looks like it wants to challenge the 1.02-1.03 levels. The resistance area is significant, but the parity level means more.

EUR/USD had a bearish week as well. The pair looks like it wants to bounce back to 1.40 or so, but this should only invite more selling. We believe at this point in time that 1.35 will be seen soon as there are so many headwinds out there.

Published on 4th of November 2011
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