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EUR/CHF continued to go sideways during the previous week as traders avoid buying the Franc, but simply do not want to own the Euro. The pair currently has a “floor” of 1.20 as dictated by the Swiss National Bank, and cannot rise above the 1.25 mark as the EU has so many problems currently. Someday, this pair will break above the 1.25 level, and it will become a buy-and-hold pair. However, we don’t see this happening in the near term, and as such have a hard time placing anything even remotely long-term based as far as a trade in this pair.
AUD/USD Forecast Technical Analysis
AUD/USD had a strongly bullish week as the pair ended up well over the 1.02 level. The pair did give back some of the gains at the end of the trading week, but managed to retain 80% or so of the gains. The risk environment is still high, and as a result – the headlines can come into the markets and slam this pair straight down – or even shoot it straight through the roof. With this in mind, we like buying this pair on pullbacks and a breaking of the high for the week, but are going to be very quick to move our stop losses to break even as the risk in trading this pair is very high at the moment.
USD/CAD Forecast Technical Analysis
USD/CAD had a very bearish week over the last 5 sessions, but did bounce a bit towards the end of the Friday session. It should be noted that the bounce was from the 1.01 level – the start of the support in the parity neighborhood. Because of this, we will need to see a strong break below the parity level in order to sell this pair. The bounce from here could have us buying though, as the USD is the “safe haven” trade at the moment, and there are a lot of headline risks out there. We are just as content with sitting on our hands though, as the two currencies and economies are so intertwined at times that it can be a very choppy pair.
NZD/USD Forecast Technical Analysis
NZD/USD had an extremely impressive week as the pair shot straight up. The market is currently sitting in between two major levels, but is currently in bullish mode. However, the highs keep getting lower, and the 0.8000 level isn’t that far above. Because of this, we are willing to step back and take a look at the action if we get up to that level. If we see any weakness, we are sellers. Sometimes we are paid to wait, and this could be one of those times.
