EUR/USD, USD/CAD Daily Forecast: August 17, 2018
Jason Sen | Aug 17, 2018 04:50AM ET
EURUSD likely to trade sideways to higher. Resistance at 1.1400/05 held perfectly yesterday. A break above 1.1410 is a small buy signal targeting 1.1460/70, Just possibly as far as 1.1485/95.
Failure to beat 1.1400/05 targets 1.1375/70 & 1.1345/40 before the low at 1.1300/1.1295. Below 1.1280 in the bear trend risks a slide to 1.1225/15.
USDCAD shorts at 1.3170/80 target 1.3122/27. On further losses look for 1.3090/95 & perhaps as far as 1.3065/55. Below 1.3040 signals further losses to 1.3005/00 & a buying opportunity at 1.2985/75, stop below 1.2940.
A selling opportunity at 1.3170/80 with stops above 1.3200. A break higher is a medium term buy signal targeting 1.3225 & 1.3255/60, perhaps as far as 1.3290/95.
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