Forex Trading: Risk aversion continues

by Joe Oliver, Forex Trading-Pips

Forex Trading: Risk aversion continued Monday with capital flowing out of risk and into the safe havens: Swiss Franc, Yen, Gold and Treasuries.

USD.CAD has put in a double bottom weekly basing pattern and has taken out June 2011 weekly swing highs. Further strength in USD.CAD is likely as traders continue to liquidate risk.

Forex Trading, CAD weekly bars

Forex Trading, CAD weekly bars

 

 

 

 

 

 

 

USD.CHF breaks down to new lows

Forex Trading, CHF daily bars

Forex Trading, CHF daily bars