EUR/USD finally broke the last of it's support during the week, and it now appears that this pair has entered a massive bear market. We no longer buy this pair, and will only sell rallies at this point. We look for 1.40 to be resistive in the near-term, and wait to see 1.35, and even 1.30 before it is all said and done.
USD/CAD finds itself banging on the door of parity yet again. As we have said recently, the oil markets will dictate where this pair goes. If the CL contract in the oil markets closes above the $90 mark, there will be a lot of demand for the Canadian dollar. If it closes below $80 - this pair will move upward with force.
The USD/SGD was knocking on the door of some very low levels recently, however - with the recent spat of major fear in the markets, the USD is being bought against everything, the Sing dollar is no different.
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