EUR/USD, USD/CAD, GBP/CAD

EURUSD first resistance at 1.1810/20. Shorts need stops above 1.1835.

USDCAD remains in an erratic & random sideways trend for 2 months. I have no idea how to trade the pair!!!

GBPCAD edged higher to the upper end of the 5 month range.

Daily analysis

EURUSD first resistance at 1.1810/20. Shorts need stops above 1.1835. Shorts target 1.1765/60, perhaps as far as 1.1730/20.

Bulls need a break above 1.1840 to target 1.1880/85 before strong resistance at 1.1910/20. Shorts need stops above 1.1935.

USDCAD holding above 1.2670 can target 1.2715/25 with minor resistance at 1.2760/70. A break higher can target 1.2800 & 1.2840/50.

First support at 1.2620/10. Longs need stops below 1.2590. A break lower targets 1.2550/40 before a retest of 1.2510/1.2490.

GBPCAD hit the next target of 1.7540/50 & topped exactly here but a break above 1.7570 can target the August high at 1.7615/25. This met with aggressive selling last time.

First support at 1.7470/50. A break lower can target 1.7410/00. 

Chart

EURUSD

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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