EUR/USD and USD/CAD Daily Forecast

EUR/USD shorts at strong resistance at 1.1150/60 were unexpectedly stopped above 1.1170 for a buy signal.

USD/CAD shorts at resistance at 1.3250/60 worked perfectly as we collapse at last below 1.3220/10, targeting an excellent buying opportunity at 1.3150/40, with stops below 1.3120.

We bottomed exactly here as I write.

 

Daily Analysis

EUR/USD try longs at 1.1155/45, with stops below 1.1135. An unexpected break lower risks a slide to 1.1100/90.

Longs at 1.1155/45 target 1.1170 & 1.1190/99. A break higher eventually is likely, targeting 1.1215/25 then 1.1265/75.

USD/CAD has an excellent buying opportunity at 1.3150/40 with stops below 1.3120. A break lower is an important sell signal targeting 1.3100/90 & 1.3050/40.

Longs at 1.3150/40 target 1.3190/95 & 1.3215/20. Expect strong resistance at 1.3250/60 for profit taking on all remaining longs.

 

Trends

Weekly outlook is negative

Daily outlook is neutral

Short Term outlook is neutral

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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