EUR/USD – USD/CAD
EURUSD remains in a sideways trend, unable to break the November high exactly as predicted.
USDCAD has no clear trend or pattern to trade. We appear to be unable to sustain a move in 1 direction for more than 2 days, very occasionally 3 days. This has been the case since at least June.
In fact all this week we have held a 111 pip range of 1.3030-1.3141.
Daily Analysis
EURUSD first support at 1.1850/40 in the sideways trend then a buying opportunity at 1.1800/1.1785 with stops below 1.1770.
Very minor resistance at this week's high of 1.1890/93. Stronger trend line resistance at 1.1915/25. Shorts need stops above 1.1935. A break higher targets 1.1960/65.
USDCAD minor resistance at 1.3080/85 & again at 1.3115/25. Be ready to buy a break above 1.3140 targeting 1.3170/75, perhaps as far as 1.3205/15.
Minor support at 1.3040/30. On further losses look for 1.2990/80 before a retest of last week's low at 1.2935/25.
Chart
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