EUR/USD _ USD/CAD
EURUSD shorts at first resistance at 1.1800/1.1820 worked perfectly targeting 1.1760/50 & 1.1730/20 for a potential 70-80 pip profit this week.
USDCAD we were short at the selling opportunity at 1.3340/50 & this trade worked perfectly as we collapsed to 1.3250/40. In fact almost as far as 1.3210/00.
Daily Analysis
EURUSD shorts first resistance at 1.1800/1.1820 targets 1.1760/50, 1.1730/20 (hit & held this morning), perhaps as far as 1.1700/1.1680. On further losses expect good support at 1.1620/10. Longs need stops below 1.1590.
Sell at first resistance at 1.1780/90 with stops above 1.1820. On a break higher we could retest strong resistance at 1.1905/15.
USDCAD shorts at 1.3340/50 worked perfectly as we hit targets of 1.3300/90, 1.3270/65 & 1.3250/40. On further losses look for 1.3210/00. A test of strong support at 1.3180/70 is certainly possible.
Sell again on any bounce to 1.3330/40 with stops above 1.3370. A break higher targets 1.3400/10.
Trends
| Weekly Outlook | Neutral |
| Daily Outlook | Neutral |
| Short Term Outlook | Neutral |
Chart
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