October 15th Long-Term Charts

FX Strategy Video > Currency Pairs Analysis

EUR/USD fell during the week as the "risk off" trade came into play. However, the candle for the week is a hammer. Adding to the confusion is the fact that the Friday candle is a shooting star, and the 1.30 level begins a 500 pip area of noise. Stay away.

USD/CAD rallied a bit during the week, but the 0.98 level continues to hamper gains in this pair. In fact, this area has been both support and resistance, and as such we think this market is ready to fall again. Oil markets will more than likely be a huge factor.

The GBP/USD pair fell this past week, but bounced off of the 1.60 level. The hammer that formed for the week looks supportive at this point in time is at the 50% Fibonacci retrace of the breakout move makes us look at this pair as strong.

Published on 13th of October 2012
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