EUR/USD longs at 1.1810/00 worked perfectly hitting the target of 1.1880/1.1900 for profit taking. Up to 80 pips profit this week.
USD/CAD has become erratic and random over the past week, up one day, down the next day in the sideways trend. Yesterday we edged lower to 1.2545.
GBP/CAD remains quite erratic abd random, holding minor support at 1.7345/55 and the first target of 1.7380/7400.
Today’s Analysis
EUR/USD longs at first support at 1.1800/10 worked perfectly on our buy signal targeting 1.1880/1.1900 for profit taking. Now we run in to strong resistance at 1.1915/25. Shorts need stops above 1.1960.
First support at 1.1840/30. Strong support at 1.1800/1.1790. Longs need stops below 1.1780.
USD/CAD holding below 1.2580 is negative for this week targeting 1.2560 and 1.2535/30, perhaps as far as 1.2500/1.2490.
Bulls need a break above 1.2630 to regain control, initially targeting 1.2680/90.
GBP/CAD same levels apply for today and holding minor support at 1.7345/55 targets 1.7380/7400 then first resistance at 1.7440/50. A break higher targets 1.7485/1.7500.
Minor support at 1.7275/65. Further losses target 1.7254, perhaps as far as 1.7220.
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