EURUSD in a volatile sideways trend & getting more difficult to trade for this reason. You can't hold a position for very long before prices reverse, wiping out any profit. No pattern or trend to give us a clue to direction so I will try to identify some scalping levels.

USDCAD has key support at 1.3145/35 & we bottomed exactly here yesterday. Worth trying longs with stops below 1.3120. Good upside potential if the support holds today.

Daily Analysis

EURUSD holding best support at 1.1850/40 targets 1.1870 then last week's high at 1.1910/20. On further gains look for 1.1945/55.

Best support at 1.1850/40. Longs need stops below 1.1820. A break lower tests support at last week's low & 6 week trend line at 1.1770/60. Longs need stops below 1.1745. A break lower is a sell signal targeting a buying opportunity at 1.1690/80. Stop below 1.1660.

USDCAD try longs at support at 1.3145/35 with stops below 1.3120. However, be ready to sell a break below 1.3120 targeting 1.3100 & minor support at 1.3050/40 before a retest of recent lows at 1.3010/1.2990.

Our longs target 1.3190/99 (we topped exactly here yesterday) then 1.3210/20, perhaps as far as minor resistance at 1.3235/45 for a little profit taking. Be ready to buy a break above 1.3260 initially targeting 1.3310/20. An excellent selling opportunity at 1.3375/95 with stops above 1.3425.




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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