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Prepare For EUR/USD To Break Above 1.1360, Retesting The June High

Prepare For EUR/USD To Break Above 1.1360, Retesting The June High

EUR/USD remains in an awkward sideways trend, holding first resistance at 1.1260/70 this time on Friday.

USD/CAD remains in sideways trends, unable to sustain a move in an upward or downward direction for long. We held first resistance at 1.3610/20 and first support at 1.3550/40 perfectly.

USD / CAD Levels

Today’s Analysis

EUR/USD first resistance at 1.1260/70 with recent swing highs at 1.1290/1.1300. Be ready to buy a break higher targeting last week’s high at 1.1335/45. Be ready to buy a break above 1.1360 for a retest of the June high at 1.1410/20.

Strong support at 1.1185/75. Buy with stops below 1.1160.

USD/CAD first support at 1.3550/40 holding perfectly last week with stronger support at 1.3500/1.3490. Longs need stops below 1.3470. A break lower is a sell signal.

Minor resistance at 1.3610/20 also held perfectly but above here targets 1.3635/45 before 3 week highs at 1.3705/15. A break above 1.3725 allows a further recovery to strong resistance at 1.3790/1.3800.

EUR / USD Weekly Chart

Trends

  • Weekly outlook is neutral
  • Daily outlook is neutral
  • Short Term outlook is neutral
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