EUR/USD, USD/CAD And GBP/CAD Daily Forecast
Jason Sen | Jun 09, 2021 07:30AM ET
EUR/USD topped exactly at the next target of 1.2185/95. Risks are to the downside today.
USD/CAD trades in a range from 1.2010/00 up to 1.2130/40 for 3 weeks. Trade this range while we wait for a breakout (which I think is more likely to be in the direction of the negative prevailing trend).
GBP/CAD holding a range of 130 pips for 4 weeks. A great market for scalpers. Get ready for a breakout.
h2 Today’s Analysis/h2EUR/USD holding 1.2185/95 meets very minor support at 1.2140/30. A break below 1.2115 is a sell signal targeting 1.2095/90 and best support for today at 1.2050/40.
Longs need stops below 1.2025.
First resistance at 1.2185/95. Above 1.2205 look for 1.2235/45. Bulls then need a break above last week’s high at 1.2254 for a buy signal.
USD/CAD still holding 10 year 50% Fibonacci of 1.2040/30. A break below 1.2000 is a sell signal targeting 1.1950/30, perhaps as far as 1.1880/70.
Holding very minor support at 1.2070/80 targets 2 week trend line resistance at 1.2135/45. A high for the day possible but shorts need stops above 1.2155. Strong 9 month trend line and 200 week moving average resistance at 1.2180/1.2200.
GBP/CAD topped exactly at first resistance at 1.7150/60 for another great scalping opportunity. First downside target for shorts is 1.7100/7090 then 3 week trend line support at 1.7035/25 for profit taking. Longs need stops below 1.7015. A break lower to can target 1.6955/45.
First resistance at 1.7150/60. Shorts need stops above 1.7180. Further gains can target 1.7240/60.
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