EUR/USD and USD/CAD Daily Forecast
EUR/USD difficult the end of the week as we collapsed from the next target of 1.1190/99. Longs at 1.1155/45 stopped below 1.1135.
USD/CAD bottomed exactly at our excellent buying opportunity at 1.3150/40, with stops below 1.3120.
Daily Analysis
EUR/USD reversed almost 100 pips wiping out all the gains for the day. Key support at 1.1115/1.1105 but below 1.1095 risks a slide to support at 1.1065/55.
Holding key support at 1.1115/1.1105 targets 1.1145/50. A sustained break above 1.1160 is a buy signal to retest 1.1190/99. A break above 1.1205 targets 1.1225/30 & 1.1245/50.
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 (hit on Friday) & 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
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