EURUSD down on Monday, recovers all the losses on Tuesday, then gives up all ofTuesday's gains on Wednesday.

USDCAD we wrote: held below 1.2780/2800 hitting targets 1.2750/40 & 1.2720/10. Abreak below 1.2695 targets 1.2675/70...

All targets hit.

Daily  Analysis

EURUSD retests this week's low at 1.2140/30. I do not see this as strong support sobe ready to sell a break below 1.2120 targeting 1.2100/90 then support at 1.2070/60for profit taking on shorts.

Minor resistance at 1.2170/80 but above here retests resistance at 1.2220/30. Shortsneed stops above 1.2245. A break higher is a buy signal targeting 1.2275/85 &1.2305/15. Further gains retest the 1.2340/48 high.

USDCAD held below 1.2780/2800 hitting targets 1.2750/40, 1.2720/10 & now1.2675/70 as predicted. Now we look for 1.2645/35. A break below 1.2620 is a sellsignal in the longer term bear trend, initially targeting 1.2580/70 & 1.2540/30 buteventually we look likely to test 1.2360/50.

Minor resistance at 1.2735/45 then a selling opportunity at 1.2800/20 with stopsabove 1.2840.





The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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