FX Majors Overview

We take a look at the daily charts of EUR/USD, USD/JPY and USD/CAD to highlight key levels and patterns.



  • Euro's failure to close above 1.1500 on Friday warns of a bull-trap (and left a bearish hammer on the weekly chart).

  • Resistance was found near the 200-day average.

  • A break below 1.1437 confirms a 3-day bearish reversal and takes it further within its original range.




  • A coiling pattern is emerging beneath the 50% retracement level.

  • A downside break of 107.77 confirms a bearish continuation.

  • A break above 109.09 suggests a deeper retracement is underway. The trend remains bearish whilst below 111.38.




  • The Loonie is beginning to mean revert after an extended sell-off.

  • Support was found just above the 100-day average.

  • The lower trendline of the broken channel or the 38.2% retracement level are potential areas of resistance for bears to fade into, or bulls to target on lower timeframes.


This research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.