EUR/USD: Shorts need stops above 1.2095

Jason Sen DayTradeIdeas.co.uk

EUR/USD, USD/CAD, GBP/CAD

EURUSD levels are perfect this week – we bottomed exactly at first support at 1.1995/85 & topped exactly at strong resistance at 1.2070/80 as predicted. Same levels apply for today of course.

USDCAD still confusing – Up one day, down the next day in the 1 month sideways trend. You cannot hold a position for a mot=re than a few hours before prices reverse.

We topped exactly at first resistance at 1.2525/35.

GBPCAD wiped out all this week’s strong gains as we break strong support at 1.7350/30 to hit the next target of 1.7275/55.

Daily Analysis

EURUSD just bottomed exactly at first support at 1.1995/85 once again to target 1.2025/35 with strong resistance again at 1.2070/80. A high for the day is likely here again if retested today. Shorts need stops above 1.2095. A break higher however targets trend line resistance at 1.2130/40.

Strong support at 1.1995/85 but below here can target can target strong support at 1.1940/30. Longs need stops below 1.1920.

USDCAD first resistance at 1.2530/50 but above here can target 1.2575 & strong resistance at 1.2620/40.

Support at 1.2475/55. A break lower to targets the March low at 1.2380/60.

GBPCAD now targets 1.7275/55. A break lower to can retest the recent low at 1.7175/55.

Minor resistance at 1.7330/50. Strong resistance at 1.7430/50.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

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