EUR/USD: Shorts need stops above 1.2095
|EUR/USD, USD/CAD, GBP/CAD
EURUSD levels are perfect this week – we bottomed exactly at first support at 1.1995/85 & topped exactly at strong resistance at 1.2070/80 as predicted. Same levels apply for today of course.
USDCAD still confusing – Up one day, down the next day in the 1 month sideways trend. You cannot hold a position for a mot=re than a few hours before prices reverse.
We topped exactly at first resistance at 1.2525/35.
GBPCAD wiped out all this week’s strong gains as we break strong support at 1.7350/30 to hit the next target of 1.7275/55.
Daily Analysis
EURUSD just bottomed exactly at first support at 1.1995/85 once again to target 1.2025/35 with strong resistance again at 1.2070/80. A high for the day is likely here again if retested today. Shorts need stops above 1.2095. A break higher however targets trend line resistance at 1.2130/40.
Strong support at 1.1995/85 but below here can target can target strong support at 1.1940/30. Longs need stops below 1.1920.
USDCAD first resistance at 1.2530/50 but above here can target 1.2575 & strong resistance at 1.2620/40.
Support at 1.2475/55. A break lower to targets the March low at 1.2380/60.
GBPCAD now targets 1.7275/55. A break lower to can retest the recent low at 1.7175/55.
Minor resistance at 1.7330/50. Strong resistance at 1.7430/50.
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