Check out this week's Pairs in Focus- Trading
The British pound has rallied significantly during the course of the week, as it looks like we are trying to break out to the upside. The 50-Week EMA continues to offer support, and now it looks as if the British pound is going to try to take out the 1.26 level. Ultimately, this is a market that looks like given enough time he could break out to the upside, but you should probably think of this more or less as an opportunity to buy on dips more than anything else.
Remember, there’s a major correlation between crude oil and the Canadian dollar, something that you should pay close attention to.The West Texas Intermediate Crude Oil market initially fell during the course of the week but found a little bit of support on Friday to form a more positive tone.
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