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Pairs in Focus - EUR/USD, AUD/USD, USD/CAD, USD/MXN, USD/CHN, CAD/JPY, Gold, NASDAQ 100
The Euro has found the week to be absolutely horrible, as we have finally broken below the 1.05 level. By doing so, the market looks as if it is ready to go much lower, and short-term rallies at this point in time is the entry point that short sellers will be looking for. With interest rates climbing, it does make quite a bit of sense that the US dollar continues to strengthen. At this point, this is a “sell only” type of situation. The Australian dollar has rallied a bit during the course of the week, as it looks like we are approaching the 0.65 level as a bit of a magnet for price, and therefore I think you ... (full story)