EUR/USD: Minor resistance at 1.0960/80 for profit-taking perhaps shorts are too risky now [Video]

AUDUSD we wrote: close below 7480 leaves a negative weekly candle for a sell signal for this week.
The pair headed lower as predicted to 7455/45 & as far as strong support at 7400/7390. Longs need stops below 7370.
NZDUSD broke support at 6920/10 to target 6850/40 & perhaps as far as 6785/75 this week.
AUDJPY is likely to have formed a double top for a sell signal. Shorts at strong resistance at 9400/16 worked perfectly on the slide to my targets of 9320/00 & 9260/50 for up to 150 pips profit so far (risking 20 pips to make 150 always works!) - however we saw an unexpected bounce yesterday.
EURUSD plunged last week as expected after the bearish engulfing candle the week before a bounce from the buy opportunity at 1.0850/20 hit the target of 1.0930/40, with a high for the day yesterday.
USDCAD beat resistance at 1.2590/1.2610 to hit the next target & strong resistance at 1.2650/70. Shorts need stops above 1.2680.
GBPCAD consolidating losses with no buy signal yet so further sideways trading is likely for now. Same levels apply for today.

Jason Sen DayTradeIdeas.co.uk

Daily analysis

EURUSD again meets important 5 year trend line support at 1.0850/20. A low for the day exactly here on Friday & we could see that again today, to form a potential double bottom buy signal. Longs need stops below 1.0780.

Longs at 1.0850/20 target 1.0900 then 1.0930/40 (a high for the day exactly here yesterday). Minor resistance at 1.0960/80 for profit taking perhaps but shorts are too risky now.

USDCAD now targets strong resistance at 1.2650/70. Shorts need stops above 1.2690. A break higher is a medium term buy signal.

Our shorts at 1.2650/70 target 1.2590/1.2610, perhaps as far as 1.2525/05. If we continue lower look for 1.2480/70. We have another buying opportunity at 1.2440/10. Longs need stops below 1.2370. A break lower is an important medium term sell signal.

GBPCAD bounces to ease severely oversold conditions as predicted. A HIGH FOR THE DAY EXACTLY AT strong resistance at 1.6460/80 for 3 days in a row. However if we continue higher expect very strong resistance at 1.6560/80.

Shorts at strong resistance at 1.6460/80 worked perfectly on the slide to minor support at 1.6410/00. Further losses can retest 1.6315/1.6295.

AUDUSD broke first support at 7540/20 to hit my target & strong support at 7400/7390. Longs need stops below 7375. A break lower is a sell signal targeting 7320/10

First resistance at 7490/7510. Shorts need stops above 7520.

NZDUSD breaks support at 6920/10 to target support at 6850/40 (hit on Monday), perhaps as far as strong support at 6790/80. Longs need stops below 6760.

Strong resistance at 6910/30. Shorts need stops above 6945.

Author

Jason Sen

DayTradeIdeas.co.uk

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