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FX Majors Overview For January 14, 2018

Published 01/14/2019, 03:36 AM
EUR/USD
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USD/JPY
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USD/CAD
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We take a look at the daily charts of EUR/USD, USD/JPY and USD/CAD to highlight key levels and patterns.

EUR/USD Daily

  • Euro’s failure to close above 1.1500 on Friday warns of a bull-trap (and left a bearish hammer on the weekly chart).
  • Resistance was found near the 200-day average.
  • A break below 1.1437 confirms a 3-day bearish reversal and takes it further within its original range.

EURUSD Daily Chart

USD/JPY Daily

  • A coiling pattern is emerging beneath the 50% retracement level.
  • A downside break of 107.77 confirms a bearish continuation.
  • A break above 109.09 suggests a deeper retracement is underway. The trend remains bearish whilst below 111.38.

USDJPY Daily Chart

USD/CAD Daily

  • The Loonie is beginning to mean revert after an extended sell-off.
  • Support was found just above the 100-day average.
  • The lower trendline of the broken channel or the 38.2% retracement level are potential areas of resistance for bears to fade into, or bulls to target on lower timeframes.

USDCAD Daily Chart

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