EUR/USD: A break above 1.1785 can retest 1.1820

Jason Sen DayTradeIdeas.co.uk

EUR/USD – USD/CAD

EURUSD shorts at our selling opportunity at 1.1770/80 worked perfectly on the slide to targets of 1.1725/20 & 1.1690/80. In fact we bottomed exactly here for an 80-90 pips profit.

USDCAD unexpectedly beat first resistance at 1.3170/80 & the selling opportunity at 1.3220/30.

Daily Analysis

EURUSD shorts at 1.1770/80 target 1.1725/20 & 1.1690/80 (hit). On further losses look for 1.1655/45 before a retest of the September low at 1.1620/10.

Try shorts at 1.1760/70 with stops above 1.1785. A break higher can retest last week's high at 1.1820/30. A break higher meets minor resistance at 1.1860/65.

USDCAD first resistance at 1.3240/50. A break above 1.3270 targets 1.3295/99.

Minor support at 1.3200/1.3190 but below here targets 1.3160/50 before a retest of the low this week at 1.3110/00.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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