Today after the Canadian employment news report, the CAD (Canadian Dollar) was weak on all pairs. Employment Change statistics came in at -9,400, and the unemployment rate edged up to 7.1% in June from 7.0% the prior month.
For traders, movement cycles on the CAD pairs were very good. Most of these pairs are not trending, but trading inside of ranges, so we consider these to be short term moves. The GBP/CAD did break out of one resistance level and it could continue higher to the next resistance area at 1.8450. The live currency strength indicator you see below is The Forex Heatmap®, which provides live buy and sell signals for 28 pairs. It works in most market conditions like after forex news drivers.
Currency Strength Indicator CAD Weakness 7/11/2014