EUR/USD shorts at 1.1030/35 unfortunately stopped above 1.1045 & shorts at 1.1065/75 were tricky on the spike to 1.1089.

USD/CAD bottomed exactly at our buying opportunity at 1.3270/60 for a bounce to 1.3309.

 

Daily analysis

EUR/USD holding above 1.1065/75 allows further gains to resistance at 1.1095/1.1105 as we become overbought short term. Shorts here need stops above 1.1120.

Try longs at 1.1050/40 with stops below 1.1025.

USD/CAD meets the buying opportunity again at 1.3270/60 (which has worked a couple of times). Stop below 1.3250. A break lower is a sell signal targeting 1.3240/35 & 1.3220/15. Minor resistance at 1.3285/90 & the recovery high of 1.3322/27. A break above 1.3330 targets minor resistance at 1.3350/55 & at 1.3385/85. A break above here is another buy signal.

 

Trends

Weekly outlook is negative.

Daily outlook is neutral.

Short Term outlook is neutral.

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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