EUR/USD: Minor support at 1.1780/70
|EUR/USD, USD/CAD, GBP/CAD
EURUSD is lower as predicted breaking 1.1820/10 to hit the next target of 1.1780/70. However, we unexpectedly bottomed exactly here for a recovery to resistance at1.1855/60. The pair topped exactly here.
USDCAD downside limited as expected – we held 18 pips above first support at1.2400/1.2385 & shot higher after the buy signal. Outlook remains positive.
GBPCAD, unfortunately, beat very strong resistance at 1.7265/85 but unexpectedly reversed from 1.7339.
Daily analysis
EURUSD shorts at resistance at 1.1855/60 target 1.1820/10 & minor support at 1.1780/70. A break lower targets 1.1740/30, probably as far as very important support at 1.1700/1.1680. Longs need stops below 1.1660.
First resistance at 1.1855/60. Strongest resistance at 1.1885/1.1905. Shorts need stops above 1.1925.
USDCAD outlook positive but we meet strong resistance at 1.2640/60. Shorts need stops above 1.2680.
First support at 1.2510/00. A buying opportunity at 1.2460/40. Stop below 1.2420.
GBPCAD first support at 1.7230/20. A buying opportunity at 1.7170/50. Stop below1.7130.
Chart
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