EUR/USD, USD/CAD July 14 Forecast
Jason Sen | Jul 14, 2020 04:52AM ET
EUR/USD topped exactly at first resistance at 1.1335/45 in the morning session then retested last week’s high at 1.1370 in the afternoon. We are testing the 1.1345/35 level on the downside as I write overnight.
USD/CAD remains in the predicted sideways trend as we bounced from 1.3530 to 1.3580/70 but holding resistance at 1.3630/40 overnight.
EUR/USD minor support at 1.1340/30 but below here targets 1.1305/00. Best support at 1.1275/65. Longs need stops below 1.1245. A break lower is a sell signal (with 1.1265/75 acting as resistance) targeting 1.1215/05, perhaps as far as strong support at 1.1180/70.
Minor support at 1.1340/30 and minor resistance at 1.1370/75 before a retest of the June high at 1.1410/20.
USD/CAD meets resistance at 1.3630/40. Stop above 1.3650. A break higher targets 1.3660/65 before a retest of the late June high at 1.3705/15.
First support at 1.3580/70 but below here targets 1.3540/30 with support at 1.3500/1.3490. Longs need stops below 1.3470. A break lower is a sell signal targeting 1.3465/60, 1.3440/30 and perhaps as far as 1.3400/90.
- Weekly outlook is neutral
- Daily outlook is neutral
- Short Term outlook is neutral
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