USDCAD was previously trading inside an ascending channel pattern before breaking lower to signal a reversal. Price hit a low of 1.2762 before pulling up and indicating that a retracement to the broken support area could be in order.
The AUDUSD pair went back and forth during the course of the session on Monday, but eventually ended up forming a positive candle.
The EURUSD pair initially fell during the day on Monday, but turned right back around and form a bit of a hammer.
The EURUSD pair fell significantly during the day but did bounce a bit by the end of the day on Friday.
The GBPUSD ended higher last week on the back of surprisingly stronger-than-expected UK economic data and as the dollar eased along with expectations about an imminent rate hike in the US.
This week saw data from the UK surprise positively and the severally-oversold pound bounced back sharply, while the dollar fell across the board as the Fed watered down rate hike expectations in the minutes of the FOMC’s last meeting and after some weakness in US data was observed, causing the EUR/USD to climb to its best level since 24 June.
The EURUSD pair went back and forth during the course of the day on Tuesday, showing a bit of indecision after a very impulsive day on Monday.
The investor confidence index compiled by the China (FXI, quote) Securities Investor Protection Fund Corp. (SIPF) dropped from 54.9 in June to 51.6 in July.
The EURUSD pair initially tried to rally during the course of the day on Friday, but gave back about half of the games in order to form a shooting star.
The Australian dollar initially tried to rally during the Friday session but back and sold off rather significantly.
