EUR/USD meets minor resistance at two-month highs at 1.1915/20

Jason Sen DayTradeIdeas.co.uk

EUR/USD – USD/CAD

EURUSD crashed 100 pips from a high of 1.1905 & bottomed exactly at our buyingopportunity at 1.1800/1.1790. We recovered all the losses on Tuesday as we clearlyremain in a sideways trend. Now retesting minor resistance at 2 month highs at1.1915/20.

USDCAD difficult to trade yesterday after we initially broke 1 month lows at1.3040/30 but then reversed & shot higher to minor resistance at 1.3080/90. Wehave now collapsed to the 1.2990/80 target but it is impossible to have a clue wherewe go today in the sideways trend. We have been up 1 day & down the next for atleast 2 weeks

Daily Analysis

EURUSD meets minor resistance at 2 month highs at 1.1915/20. A break above1.1940 is a buy signal targeting 1.1960/70 then resistance at this year’s high of1.2000/10.

Holding resistance at 2 month highs at 1.1915/20 targets 1.1895/90, perhaps as faras support at 1.1870/60. Below 1.1845 meets support at 1.1800/1.1790.

USDCAD first resistance at 1.3030/40 but above here targets minor resistance at1.3080/90. Minor resistance again at 1.3115/25.

Holding 1.3030/40 re-targets 1.2990/80 before a retest of last week’s low at1.2935/25

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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