EUR/USD, USD/CAD, GBP/CAD

EURUSD first resistance at 1.2190/95, first support at 1.2150/40.

USDCAD trades in a range from 1.2010/00 up to 1.2130/40 for 3 weeks. (We held 6 pips below here this week). Trade this range while we wait for a breakout (which I think is more likely to be in the direction of the negative prevailing trend).

GBPCAD holding a range of 130 pips for 4 weeks. A great market for scalpers. We bounced just 5 pips above 3 week trend line support at 1.7035/25 & topped exactly at first resistance at 1.7150/60.

Daily analysis

EURUSD first support at 1.2150/40. A break below 1.2130 is a sell signal targeting 1.2095/90 & best support for today at 1.2050/40. Longs need stops below 1.2025.

First resistance at 1.2190/95. Above 1.2205 look for 1.2235/45. Bulls then need a break above last week’s high at 1.2254 for a buy signal.

USDCAD retests very minor support at 1.2070/80. A bounce from here re-targets 2 week trend line resistance at 1.2135/45. A high for the day possible but shorts need stops above 1.2155. Strong 9 month trend line & 200 week moving average resistance at 1.2180/1.2200.

10 year 50% Fibonacci support at 1.2040/30. A break below 1.2000 is a sell signal targeting 1.1950/30, perhaps as far as 1.1880/70.

GBPCAD topped exactly at first resistance at 1.7150/60 as we look for 1.7110/00, perhaps as far as 3 week trend line support at 1.7035/25 for profit taking. Longs need stops below 1.7015. A break lower to can target 1.6955/45.

5 week trend line resistance at 1.7150/60. Shorts need stops above 1.7180. Further gains can target 1.7240/60.

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.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD climbs above 1.1250 as investors eye coronavirus headlines

EUR/USD preserved its recovery momentum early Friday and rose above 1.1250 during the European trading hours. Markets are doubting the Fed's policy tightening prospects as the new coronavirus variant revives concerns over the economic recovery losing steam.

EUR/USD News

GBP/USD rebounds toward mid-1.3300s on broad dollar weakness

GBP/USD reversed its direction after dipping below 1.3300 earlier in the day and started to push higher toward 1.3350. The greenback is facing heavy selling pressure amid the sharp decline witnessed in the 10-year US Treasury bond yield.

GBP/USD News

Gold clings to strong gains above $1,800 as US T-bond yields plunge Premium

Gold staged a decisive rebound on Friday and reclaimed $1,800. The intense flight to safety is causing US Treasury bond yields to fall sharply and fueling XAU/USD's rally. Investors await news on vaccines' effectiveness against the new COVID variant.

Gold News

Cardano could tank to $1 if ADA fails to defend crucial support

Cardano price is currently hovering below a freshly shattered 6-hour demand zone, ranging from $1.68 to $1.79. This resulting crash could extend to the immediate and critical foothold at $1.40. 

Read more

Black Friday 2021 Discounts!

Do you want to take your trading skills to the next level? Now you have a chance of leaping forward at attractive introductory rates. For Black Friday, FXStreet is offering discounts of up to 50% on its upgraded Premium plans. 

Subscribe now!

Majors

Cryptocurrencies

Signatures