EURUSD has 2 small shooting star candles which is mildly negative but more so indicates we remain in a sideways trend, unable to break the November high.

USDCAD has no clear trend or pattern to trade. We appear to be unable to sustain a move in 1 direction for more than 2 days, very occasionally 3 days. This has been the case since at least June.

We broke support at 1.3080/70 to bottom exactly at the next target of 1.3030/20.

Daily Analysis

EURUSD first support at 1.1845/35 in the sideways trend. A break lower targets a buying opportunity at 1.1800/1.1785 with stops below 1.1770.

Very minor resistance at this week's high of 1.1890/93. Stronger trend line resistance at 1.1915/25. Shorts need stops above 1.1935. A break higher targets 1.1960/65.

USDCAD bounces back in the sideways trend to 1.3080/90. Holding here re-targets 1.3060 & 1.3030/20. On further losses look for 1.1.2990/80 before a retest of last week's low at 1.2935/25.

Above 1.3100 targets 1.3135/55.






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.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

GBP/USD tumbles from the highest since 2018 on the Brexit impasse

The GBP/USD roller coaster continues with a downfall below 1.35 after the pair hit a 31-month high of 1.3539 earlier. Brexit talks have yet to yield an agreement. Negotiations are set to continue through the weekend.


EUR/USD battles 1.2150 after disappointing NFP

EUR/USD is trading off the 32-month highs amid bumps in US stimulus and vaccine distribution. Markets await the all-important US Nonfarm Payrolls missed expectations with 245K jobs gained in November. 


XAU/USD fails to break $1850 and turns to the downside

Gold peaked after the beginning of the American session at $1848/oz reaching the highest level since November 23 and then turned to the downside. It bottomed at $1829 and is it about to end the week hovering around $1830.

Gold news

Dollar downfall explained and what's next for markets

The safe-haven US dollar is hitting multi-month and multi-year lows against its peers while stocks are on fire. What is behind the risk-on rally? Valeria Bednarik, Joseph Trevisani, and Yohay Elam discuss markets' moving parts as 2020 nears its end.

Read more

Extra week of Black Friday!

Learn to trade with the best! Don't miss the most experienced traders and speakers in FXStreet Premium webinars. Also if you are a Premium member you can get real-time FXS Signals and receive daily market analysis with the best forex insights!

More info

Forex Majors