EURUSD topped exactly at our selling opportunity at 1.1770/80.

USDCAD consolidates losses – There's no sign of a bounce so a break below 2 day lows at 1.3105/1.3097 targets 1.3080/70. Try shorts at 1.3220/30 with stops above 1.3240.

Daily Analysis

EURUSD shorts at 1.1770/80 target 1.1725/20 & 1.1690/80. On further losses look for 1.1655/45 before a retest of the September low at 1.1620/10.

Try shorts at 1.1770/80 with stops above 1.1790. A break higher can retest last week's high at 1.1820/30. A break higher meets minor resistance at 1.1860/65.

USDCAD break of 1.3105/1.3097 targets 1.3080/70 then 1.3045/35 before a retest of the September low at 1.3000/1.2990.

Gains are likely to be limited with first resistance at 1.3170/80. Shorts need stops above 1.3195. If we continue higher try shorts at 1.3220/30 with stops above 1.3240.




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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