EUR/USD: be ready to buy a break above 1.1115

Jason Sen DayTradeIdeas.co.uk

EURUSD _ USDCAD

EURUSD be ready to buy a break above 1.1115 to target strong resistance at 1.1150/60.

USDCAD lower as expected to within 4 pips of support at 1.3150/40 for profit taking on all shorts.

Daily Analysis

EURUSD has only very minor resistance at 1.1095/1.1105 today. Be ready to buy a break above 1.1115 to target strong resistance at 1.1150/60.

Minor support at 1.1060/50 held but try longs at 1.1040/30 if we continue lower, with stops below 1.1020. A break lower is a sell signal.

USDCAD holding key support at 1.3150/40 but longs here need stops below 1.3120. A break lower is an important sell signal targeting 1.3080/70 & 1.3020/10.

Gains are likely to be limited with minor resistance at 1.3190/1.3200 & 1.3222/30. Try shorts at 1.3255/65 with stops above 1.3285.

Trends

Weekly outlook is neutral

Daily outlook is neutral

Short Term outlook is neutral

Author

Jason Sen

DayTradeIdeas.co.uk

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