EUR/USD holding above 1.1065 allows further gains

Jason Sen DayTradeIdeas.co.uk

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.

Author

Jason Sen

DayTradeIdeas.co.uk

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