EUR/USD holding first resistance at 1.1255/65 offering 70 pips profit

EURUSD shorts at first resistance at 1.1255/65 worked on the slide to 1.1225 & 1.1200, although we held 14 pips above the next target of 1.1170/60.
USDCAD we wrote: first support at 1.2650/40 could see a low for the day...Longs at first support at 1.2650/40 expected to target 1.2690/1.2700 & 1.2740.
1.2720 reached as I write this morning but outlook remains positive.

Jason Sen DayTradeIdeas.co.uk

Daily analysis

EURUSD holding first resistance at 1.1255/65 offering us 70 pips profit so far as we look for 1.1170/60. No sign of a low yet, so further losses can target 1.1120/10.

Gains are likely to be limited with minor resistance at 1.1230 & 1.1255/60. Strong resistance at 1.1300/10. Shorts need stops above 1.1325.

USDCAD our longs at first support at 1.2650/40 expected to target 1.2740 today, perhaps as far as 1.2760/70. If we continue higher look for 1.2800.

First support at 1.2650/40 could see a low for the day again today. Second support at 1.2580/70. Stop below 1.2555.

Author

Jason Sen

DayTradeIdeas.co.uk

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