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

EURUSD

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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