EURUSD shorts at first resistance at 1.1610/20 are working today

EURUSD shorts at first resistance at 1.1610/20 are working today

EURUSD shorts at first resistance at 1.1610/20 are working today

USDCAD remains in a sideways range, good for scalping opportunities only as we hold first resistance again at 1.2420/40. Shorts stop above 1.2450.

GBPCAD did not break lower but is holding around the low.

Today's Analysis.

EURUSD first resistance again at 1.1610/20. Shorts need stops above 1.1630. A break higher can target strong resistance at 1.1695/1.1705. Exit longs & try shorts with stops above 1.1720. A break higher is a buy signal targeting 1.1765/70 & 1.1800/10.

Shorts at 1.1610/20 target 1.1580/75 (hit) perhaps as far as first support at the October low at 1.1530/20 today for profit taking. A break below 1.1510 is a sell signal initially targeting 1.1490 & although this could hold initially (a low for the day certainly possible but longs are risky) we eventually expected to target 1.1430/20.

EURUSD shorts at first resistance at 1.1610/20 are working today - 1

USDCAD first resistance again at 1.2420/40. Shorts stop above 1.2450. Be ready to buy a break above 1.2450 targeting 1.2510/30.

Shorts at 1.2420/40 target 1.2370/65 (likely to pause here) then support at 1.2300/1.2280. Longs here need stops below 1.2270. A break lower is a sell signal.

GBPCAD hits targets of 1.6950/40 & 1.6910/1.6890 for profit taking on shorts as finally we head for the target of 1.6870/60, perhaps as far as support at 1.6800/1.6780.

First resistance at 1.680/90. Shorts need stops above 1.7010. We can try shorts again at 1.7050/70 but must stop above 1.7090.

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Jason Sen

Jason Sen

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason used technical analysis throughout his trading career and formed Daytrdeideas.co.uk which established itself as the leading provider of daily technical analysis to independent and professional traders within the investment bank community. He advises dozens of traders at up to 15 major investment banks and hedge funds on market movement throughout each trading day on The Bloomberg Professional® service. Jason Sen also provides trade ideas with entry, exit and target levels on Telegram & in daily reports to retail traders. daytradeideas.co.uk