• USD/CAD completed a bullish engulfing pattern on 17 August. It suggests a potential short-term return of demand for USD Dollars, especially as USD/CAD is now close to its strong support at 0.9800 and is deeply oversold. • Given the long-term horizontal trend, we see the current weakness near the 27 April low as a good opportunity to initiate a long USD position. • EUR/USD saw a minor break under daily channel support last week that failed to garner momentum. We would thus view a push back over 1.2444 as being a short-term bullish signal and have hence moved our stop to rest just above the recent high at 1.2444. • ... (full story)