EUR/USD: A break above 1.1015 is a medium term buy signal

EUR/USD: A break above 1.1015 is a medium term buy signal

EURUSD shorts at 1.0955/70 worked perfectly offering up to 50 pips profit on the slide to the 1.0925/15 level & we bottomed exactly here.

FOREX SIGNALS

USDCAD trading in a 2 month sideways triangle pattern as we give up all of last week’s gains in 2 days this week. Unfortunately we missed our buying opportunity at 1.3850/40 buying opportunity at just 12 pips.

Today’s Analysis

EURUSD shorts at the strongest resistance is at 1.0955/70 need stops above 1.0985. A break higher targets the 200 day moving average at 1.1010/15. A break above here is a medium term buy signal.

Minor support at 1.0905/1.0895 then buy at 1.0855/45 with stops below 1.0825.

USDCAD trading in a 2 month sideways triangle pattern with minor resistance at 1.3955/65 then a selling opportunity at 1.4015/35 with stops above 1.4055.

Very minor support at 1.3925/15 then a buying opportunity at 1.3850/40 with stops below 1.3825. Next target is 1.3890/80.

 

Trends

Weekly outlook is neutral.

Daily outlook is neutral.

Short Term outlook is neutral.

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