EUR/USD: Bulls must hold the pair above first support at 1.1920/10

Jason Sen DayTradeIdeas.co.uk

EUR/USD – USD/CAD

EURUSD beat 11 year trend line resistance 1.1915/25 & closed at the high of the week for a buy signal.

USDCAD up 1 day & down the next for at least 2 weeks. No clear direction or pattern to trade. We are holding first resistance at 1.3030/40.

Daily Analysis

EURUSD we have a buy signal targeting less important resistance at this year's high of 1.2000/10. A break above here is a very important longer term buy signal & should signal the start of a significant bulls trend in to 2021.

Bulls must hold the pair above first support at 1.1920/10. Longs need stops below 1.1890.

USDCAD first resistance at 1.3030/40 but above here targets minor resistance at 1.3080/90. Minor resistance again at 1.3115/25.

Holding 1.3030/40 re-targets 1.2990/80 then last week's low at 1.2978/68 before the November low at 1.2935/25.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens.

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