Note

EUR/USD: Further gains are possible to minor resistance at 1.0960/80 [Video]

Verified Media
· Views 457

EURUSD again holds important 5 year trend line support at 1.0850/20. A low for the day exactly here & at the March low leaves a potential double bottom medium term buy signal now as I suggested yesterday. Longs need stops below 1.0790. A break lower meets 37 year trend line support at 1.0760/20. Longs need stops below 1.0670.

Longs at 1.0850/20 target 1.0900 then 1.0930/40 (a high for the day exactly here on Monday). Further gains are possible to minor resistance at 1.0960/80.

USDCAD our shorts at 1.2650/70 target 1.2610/1.2590 & 1.2525/05 today. If we continue lower look for 1.2480/70. We have another buying opportunity at 1.2440/10. Longs need stops below 1.2370. A break lower is an important medium term sell signal.

Obviously strong resistance at 1.2650/70. Shorts need stops above 1.2690. A break higher is a medium term buy signal.

GBPCAD bounces to ease severely oversold conditions as predicted. Strong resistance at 1.6460/80 certainly doing it's job so far this week. However if we continue higher expect very strong resistance at 1.6560/80.

Minor support at 1.6410/00. Further losses can retest 1.6315/1.6295.

Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.

FOLLOWME Trading Community Website: https://www.followme.com

If you like, reward to support.
avatar

Hot

No comment on record. Start new comment.