EUR/USD: Best support at 1.1275

Jason Sen DayTradeIdeas.co.uk

EUR/USD – USD/CAD

EURUSD topped exactly at first resistance at 1.1335/45 in the morning session then retested last week's high at 1.1370 in the afternoon. We are testing the 1.1345/35 level on the downside as I write over night.

USDCAD remains in the predicted sideways trend as we bounced from 1.3530 to 1.3580/70 but holding resistance at 1.3630/40 over night.

	Scalping levels.	Target.
AUDUSD	buying opportunity at 6910/00. Stop below 6885	6930, 6970
NZDUSD	buying opportunity at 6500/6490, with stops below 6480
NZDUSD	selling opportunity at 6660/70.
EURUSD	Unable to sustain a move in 1 direction for more than a day
EURUSD	Best support at 1.1275/65. Longs need stops below 1.1245	1.1310,1.1335
EURUSD	A break lower is a sell signal
USDJPY	selling opportunity at 107.50/60, with stops above 107.75	107.00, 106.70.
Gold	buying opportunity again at 1796/94, stops below 1791
Gold	buying opportunity at 1784/82. Try longs with stops below 1778.

Daily Analysis

EURUSD minor support at 1.1340/30 but below here targets 1.1305/00. Best support at 1.1275/65. Longs need stops below 1.1245. A break lower is a sell signal (with 1.1265/75 acting as resistance) targeting 1.1215/05, perhaps as far as strong support at 1.1180/70.

Minor support at 1.1340/30 & minor resistance at 1.1370/75 before a retest of the June high at 1.1410/20.

USDCAD meets resistance at 1.3630/40. Stop above 1.3650. A break higher targets 1.3660/65 before a retest of the late June high at 1.3705/15.

First support at 1.3580/70 but below here targets 1.3540/30 with support at 1.3500/1.3490. Longs need stops below 1.3470. A break lower is a sell signal targeting 1.3465/60, 1.3440/30 & perhaps as far as 1.3400/90.

Trends

Weekly outlook is neutral.

Daily outlook is neutral.

Short Term outlook is neutral.

Author

Jason Sen

DayTradeIdeas.co.uk

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