[DAILY NOTION] FXStreet - EUR/USD & USD/CAD Forecasts - Oct 19, 2020

19 Oct 2020, 16:07 · Views 5,240

EUR/USD – USD/CAD

EUR/USD trades sideways in a triangle pattern from 1.1700/1.1690 to 1.1790/1.1800.

USD/CAD topped just 9 pips above first resistance at 1.3240/50 & collapsed to minor support at 1.3200/1.3190.

Daily Analysis

EUR/USD minor resistance at 1.1730/40. A break higher targets strong resistance at 1.1790/1.1800. A break higher retests October's s high at 1.1826/31, 1.1860/65 & perhaps as far as 1.1900/10.

Try longs at 1.1700/1.1690 with stops below 1.1680. Be ready to sell a break below for 1.1655/45 before a retest of the September low at 1.1620/10.

USD/CAD same levels apply for today with first resistance at 1.3240/50. A break above 1.3270 targets 1.3295/99.

Minor support at 1.3200/1.3190 but below 1.3280 targets 1.3160/50 before a retest of the low last week at 1.3110/00, perhaps as far as 1.3130/40

Daily Outlook: Neutral

Source: https://www.fxstreet.com/analy...

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