October 17th Long-Term Charts

FX Strategy Video > Currency Pairs Analysis

The EUR/USD pair shot straight up during the previous week, as traders are hoping for a solution to the European debt solution. Any bad news will push it lower from a resistance area that we are currently testing.

The NZD/USD looks very similar to the EUR/USD, and is overbought from the week. The pullback should be coming, and any bad news could trigger a landslide. We recently broke massive resistance, and we aren't too far above it to rule out a whipsaw at this point.

USD/CAD looks very bearish, but the parity level could come into play very shortly. If it does - we could see some kind of buying at this point. The real question is what's real? The break out, or the break down?

Published on 14th of October 2011
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