The Canadian dollar was easily the best performer this week while the euro lagged once again.
FX performance on week ending Aug 28
Technically, it doesn’t look pretty. There isn’t much support until the 100-week moving average at 1.4009 and that coincides with the Nov 2013 lows near 1.40.
EURCAD weekly
Gotta send out a *fist bump* to BNP Paribas who called for EUR/CAD shorts earlier in the week after the July goes gave way. A lot of retail traders like to buy dips but selling breaks is usually the way to go.
