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Stalking Consolidations in the Forex Markets
Written by article default Tuesday, 09 November 2010 12:21
The market started consolidating after some initial directional moves. The GBP/USD, and USD/JPY were pretty quiet and are ranging in the near-term. The USD has been especially weak to the AUD and CAD, so I will be looking at consolidation in the AUD/USD and USD/CAD with anticipation of further USD – weakness and commodity currency strength. Let’s go to the charts: