EUR/USD is holding best support at 1.1735/15 as we look for the target of 1.1790/1.1800 for longs.
USD/CAD shorts at first resistance at 1.2570/80 worked this week to test minor support at 1.2520/10.
GBP/CAD remains quite erratic and random. No trend to follow.
Today’s Analysis
EUR/USD's 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 has minor support at 1.2520/10, but a break below 1.2490 is a sell signal targeting 1.2450/40 and 1.2420/10. Strong resistance at 1.2570/80. Shorts need stops above 1.2600. A break higher can target 1.2650/60.
GBP/CAD shorts at first resistance at 1.7400/20 worked perfectly as we hit targets of 1.7360/40 and 1.7320/10 for a potential 90 pip profit. Longs at best support at 1.7310/1.7290 starting to work, but need stops below 1.7275. A break lower is a sell signal targeting 1.7250 and 1.7225/15 for profit taking on shorts. Longs at best support at 1.7310/1.7290 target first resistance at 1.7370/90. A break above 1.7410 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.
Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realized. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.