EUR/USD: Be ready to buy a break above 1.1030

Jason Sen DayTradeIdeas.co.uk

EUR/USD _ USD/CAD

EURUSD shorts at 1.1005/15 worked perfectly as we bottomed exactly at the 1.0960/50 target for an easy 60-70 pips profit.

USDCAD managed a bounce to 1.3820 but not as far as our selling opportunity at 1.3840/50.

Daily Analysis

EURUSD retests the 200 dma at 1.1005/15 this morning. Be ready to buy a break above 1.1030 targeting 1.1045/50 & a selling opportunity at 1.1085/95, with stops above 1.1120.

Holding 1.1005/15 re-targets 1.0960/50 before a buying opportunity at 1.0940/30, with stops below 1.0915.

USDCAD outlook negative after we broke the 2 month triangle hitting 1.3723 yesterday & likely to target a buying opportunity at 1.3705/1.3685 today with stops below 1.3665. A break lower is a sell signal with 1.3685/1.3700 acting as resistance to target 1.3605/00.

Sell at 1.3840/50 with stops above 1.3880, targeting 1.3810/00 & 1.3760/50.

Trends

Weekly outlook is neutral.

Daily outlook is neutral.

Short Term outlook is negative.

Author

Jason Sen

DayTradeIdeas.co.uk

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