EUR/USD: Further gains are possible to minor resistance at 1.0960/80 [Video]
|EURUSD again holds important 5 year trend line support at 1.0850/20. A low for the day exactly here & at the March low leaves a potential double bottom medium term buy signal now as I suggested yesterday. Longs need stops below 1.0790. A break lower meets 37 year trend line support at 1.0760/20. Longs need stops below 1.0670.
Longs at 1.0850/20 target 1.0900 then 1.0930/40 (a high for the day exactly here on Monday). Further gains are possible to minor resistance at 1.0960/80.
USDCAD our shorts at 1.2650/70 target 1.2610/1.2590 & 1.2525/05 today. If we continue lower look for 1.2480/70. We have another buying opportunity at 1.2440/10. Longs need stops below 1.2370. A break lower is an important medium term sell signal.
Obviously strong resistance at 1.2650/70. Shorts need stops above 1.2690. A break higher is a medium term buy signal.
GBPCAD bounces to ease severely oversold conditions as predicted. Strong resistance at 1.6460/80 certainly doing it's job so far this week. However if we continue higher expect very strong resistance at 1.6560/80.
Minor support at 1.6410/00. Further losses can retest 1.6315/1.6295.
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