Forex Updates- European Session AUD/USD, USD/CAD updates

On Thursday, the market saw very strong gains in the first part of the day, but the moves were upturned in the rest of the trading day. According to the Forex updates, the Asian sessions begins with the Pound, Euro, Swissy and the Aussie trading exactly in the same place as yesterday, while the CAD started off in the new trading session. Ahead, the European session may be slow; nearly all of the European market was closed to celebrate Labor Day.

The Aussie (AUD/USD) broke on Thursday above the 200-day moving average for the first-time since August 2008 and simultaneously reached the maximum valuation since October 2008. However, the moment was short-term because the Aussie as the rest of the major currencies saw strong selling orders during the US and the European session. At the end of the day, the Aussie formed a pin-bar. During the Asian session, the Aussie rose 30pips as it jumped off the 200 day moving average.

The CAD (USD/CAD) dropped 170 pips in the first part of the overnight session on Thursday. However, around that area, the CAD hit The LFB S2 (1.1855) and spent most of the European session trying to break lesser. In tonight’s Asian session, the CAD fell down 20pips.