EURUSD outlook remains positive if we hold above first support at 1.1010/00 after the buy signal, initially targeting 1.1050/60 (hit) & 1.1075/85, perhaps as far as 1.1100/10.
Longs at 1.1010/00 need stops above 1.0980. An unexpected break below here kills the buy signal targeting 1.0950/40 & 1.0905/00 before the swing low at 1.0883/77.

USDCAD topped exactly at 2nd resistance at 1.3230/40 but a break higher today meets a selling opportunity at 1.3270/80, with stops above 1.3300.
First support at 1.3210/00 but below here risks a slide to 1.3190/86 before a retest of last week's low at 1.3166. A break lower retests the September low at 1.3133/29 & below here targets 1.3105/00.

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 Forex Analysis

Editors’ Picks

EUR/USD: Bullish breakout faces next challenge at 1.1150

The EUR/USD pair closed the week at around 1.1100, its highest settlement in two months, as poor US data coupled with a relief rally of high-yielding assets ahead of the close. Several European countries will start the week celebrating a holiday.


GBP/USD: Post-Brexit relationship taking centre stage

The GBP/USD pair hit 1.2393 on Friday, a two week high, retreating sharply from the level ahead of Trump’s speech to later recover on relief and settle at 1.2345. Cable is technically neutral, although the bullish potential seems limited.


Cryptocurrencies: $348M in matured derivatives boost the market

Futures and options contracts' expiration brings a wave of volatility to the crypto market. Ethereum takes advantage and attacks resistances in the market dominance chart, Bitcoin goes back. Ripple disappoints despite regaining the third place in market capitalization.

Read more

Canada's economy falls by 8.2% annualized in Q1, better than expected, USD/CAD shakes

The Canadian economy squeezed by an annualized rate of 8.2% in the first quarter of 2020, better than -10% expected. Quarterly, Gross Domestic Product (GDP) squeezed by 2.1%. Most of the downfall occurred in March, with a drop of 7.2%, better than 8.5% projected. 

Read more

WTI drops 4% and eyes $32 mark amid risk-off, weakening demand

The selling pressure around WTI (July futures on Nymex) accelerates following the break below the 33 level, as bears now target the 32 support zone heading into the key US macro data and US President Donald Trump’s response to the Hong Kong issue.

Oil News

Forex Majors