EUR/USD: Be ready to buy a break above 1.1030
|EUR/USD _ USD/CAD
EURUSD shorts at 1.1005/15 worked perfectly as we bottomed exactly at the 1.0960/50 target for an easy 60-70 pips profit.
USDCAD managed a bounce to 1.3820 but not as far as our selling opportunity at 1.3840/50.
Daily Analysis
EURUSD retests the 200 dma at 1.1005/15 this morning. Be ready to buy a break above 1.1030 targeting 1.1045/50 & a selling opportunity at 1.1085/95, with stops above 1.1120.
Holding 1.1005/15 re-targets 1.0960/50 before a buying opportunity at 1.0940/30, with stops below 1.0915.
USDCAD outlook negative after we broke the 2 month triangle hitting 1.3723 yesterday & likely to target a buying opportunity at 1.3705/1.3685 today with stops below 1.3665. A break lower is a sell signal with 1.3685/1.3700 acting as resistance to target 1.3605/00.
Sell at 1.3840/50 with stops above 1.3880, targeting 1.3810/00 & 1.3760/50.
Trends
Weekly outlook is neutral.
Daily outlook is neutral.
Short Term outlook is negative.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.