EUR/USD longs at 1.1700/1.1680 worked perfectly as we hit the first target of 1.1750/60 and topped exactly here. Today we target 1.1780/90 for profit taking.
USD/CAD negative shooting star signalled a top in place but the pair collapsed much further than I expected.
GBP/CAD remains quite erratic and random. No trend to follow, difficult to trade.
Today’s Analysis
EUR/USD longs at 1.1700/1.1680 target 1.1750/60 and resistance at 1.1780/90 today for profit taking.
Strong support at 1.1700/1.1680. Longs need stops below 1.1650. A break lower is a sell signal targeting 1.1630 and 1.1580/70.
USD/CAD crashed 200 pips wiping out Thursday’s strong gains, after Friday’s strong gains had evaporated. Minor support at 1.2600/1.2570. Longs need stops below 1.2540.
Minor resistance at 1.2740/60. A break higher targets 1.2820/30.
GBP/CAD broke first support at 1.7450/40 and unexpectedly broke strong support at 1.7390/80. Best support at 1.7335/15. Stop below 1.7295.
Longs at 1.7335/15 target 1.7390/99, perhaps as far as resistance at 1.7435/55 for profit taking.
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