EUR/USD: Buy at 1.0855

EUR/USD: Buy at 1.0855

EUR/USD _ USD/CAD

EURUSD beat resistance at 108.20/30 & 1.0845/55 to hit the 1.0915/25 target.

USDCAD longs at 1.4045/35 stopped below 1.4015 to target 1.3975/65 & 1.3910/00.

 

Daily Analysis

EURUSD rockets as far as 1.0915/25. We topped exactly here but the strongest resistance is at 1.0955/70. Shorts need stops above 1.0985. A break higher targets the 200 day moving average at 1.1015.

Buy at 1.0855/45 with stops below 1.0825.

USDCAD likely to retest the 1 week low at 1.3910/00. Below 1.3890 meets a buying opportunity at 1.3850/40 with stops below 1.3825. Next target is 1.3890/80.

We are trading in a 2 month sideways triangle pattern. A recovery minor resistance at 1.4000/10. Try shorts at 1.4035/45 with stops above 1.4065.

 

Trends

Weekly outlook is neutral.

Daily outlook is neutral.

Short Term outlook is neutral.

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