EUR/USD longs at best support at 1.1735/15 worked perfectly as we hit the target of 1.1790/1.1800 for a 70 pip profit on the week.
USD/CAD topped exactly at first resistance at 1.2525/35 and bottomed exactly at the first target of 1.2500/1.2490.
GBP/CAD remains quite erratic and random. No trend to follow.
Today’s Analysis
EUR/USD longs at best support at 1.1735/15 handed a 70 pip profit as we hit what is first resistance at 1.1790/1.1800 this week. A break above 1.1820 can target resistance at 1.1870/80. Holding first resistance at 1.1790/1.1800 risks a slide to best support at 1.1735/15. Longs need stops below 1.1695. A break lower is a sell signal targeting 1.1640/30 then 1.1580/70.
USD/CAD holding first resistance at 1.2525/35 targets 1.2500/1.2490. A break below here is a sell signal targeting 1.2450/40 and 1.2420/10. First resistance at 1.2525/35. Bulls need a break above 1.2560 for a buy signal targeting 1.2600, perhaps as far as 1.2650/60.
GBP/CAD sees strong resistance at 1.7360/80. A break above 1.7400 meets minor resistance at the August high of 1.7495/1.7505. A break above 1.7510 targets the July high at 1.7557/67. Minor support at 1.7210/00. A break lower targets 1.7265/55, perhaps as far as 1.7230/20.
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