EUR/USD: Further gains towards a selling opportunity at 1.0800/20 [Video]

Jason Sen DayTradeIdeas.co.uk

US dollar should continue higher after new buy signals but Bitcoin expected to collapse again.

EURUSD made a high for the day just 8 pips from strong resistance at 1.0800/20 on Friday & hit support at 1.0690/70 for profit taking (only if you had a short & ran it over the weekend of course). Longs at support at 1.0690/70 are starting to work on the bounce to 1.0735. Further gains are possible to 1.0750/60 for profit taking. A high for the day is possible here but a break above 1.0775 signals further gains towards a sell opportunity at 1.0800/20. Shorts need stops above 1.0840.

Support again at 1.0690/70 for profit taking. Longs need stops below 1.0650. Sell a break below 1.0650 targeting 1.0600, perhaps as far as strong support at 1.0510/1.0490.

USDCAD remains very choppy in a sideways trend with no direction - I will wait for a breakout or signal.

The break below support at 1.3380/60 can target 1.3310/00, perhaps as far as the February low at 1.3270/60.

EURCAD shorts at strong resistance at 1.4455/75 worked as we hit the 1.4390/80 target for profit taking but we fell further to strong support at 1.4240/20 (on the trade sheet). Longs are working on the bounce to 1.4315 & can make it as far as minor support at 1.430/40 for some profit taking.

A break above 1.4360 can target strong resistance at 1.4380/1.4400. Shorts need stops above 1.4425.

Strong support at 1.4240/20. Longs need stops below 1.4190.

CADJPY break above 9900 is a buy signal & can target 9990.

Support at 9860/40. Longs need stops below 9810.

GBPUSD should have resistance at 1.2210/30. Shorts need stops above 1.2265.

Support at 1.1960/40 but longs need stops below 1.1920.

Author

Jason Sen

DayTradeIdeas.co.uk

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