EUR/USD tests best support at 1.1735/15 for this week. Longs need stops below 1.1695
USD/CAD shorts at first resistance at 1.2570/80 worked perfectly as we target minor support at 1.2520/10. Yesterday we bottomed exactly here for a 55 pip profit.
GBP/CAD remains quite erratic and random. No trend to follow.
Today’s Analysis
EUR/USD best support is at 1.1735/15 this week. Longs need stops below 1.1695. A break lower is a sell signal targeting 1.1640/30, then 1.1580/70. Longs at best support at 1.1735/15 target 1.1790/1.1800, perhaps as far as 1.1830/40.
USD/CAD meets strong resistance at 1.2570/80. Shorts need stops above 1.2600. A break higher can target 1.2650/60. Minor support at 1.2520/10 held perfectly yesterday. A break below 1.2490 is a sell signal targeting 1.2450/40 and 1.2420/10.
GBP/CAD shorts at first resistance at 1.7400/20 worked perfectly as we hit targets of 1.1.7360/40 and 1.7320/10 for a potential 90 pip profit. Best support at 1.7310/1.7290 this week. Longs need stops below 1.7275. A break lower is a sell signal targeting 1.7250 and 1.7225/15 for profit taking on shorts. First resistance at 1.7400/20. Shorts need stops above 1.7440. A break higher meets minor resistance at last week’s high of 1.7490/99. A break above 1.7510 targets the July high at 1.7557/67.
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