ForexGen | Financial News

The Cad (Usd/Cad) is trading near TheLFB S1 and is trying to take out the low of the previous trading day. The pair opened with a 30-pip gap to the downside, reflecting the trading conditions over the long weekend. The daily chart shows the pair is trading just under the 20-day moving average.

The Swissy (Usd/Chf) was the only major pair that did not have a gap at the start of the new week. In the Asian session, the swissy traded in the 30 pips range, despite the strong sell-off in the Treasury market, which is what usually backs this pair.

The Yen (Usd/Yen) opened the trading session with a 120-pip gap, from the weekend trading, just under TheLFB R2 and the 20-day moving average. Since then, the yen fell 60 points ignoring the strong gains from the Asian equity markets and the U.S. futures so far.