EURUSD plunged this week as expected after the bearish engulfing candle on Thursday.

USDCAD made a high for the day 3 pips from first resistance at 1.2530/50 this week & collapsed to my buying opportunity at the 500 week moving average at 1.2440/10.

A LOW FOR THE DAY EXACTLY AT THIS TARGET & BUYING OPPORTUNITY.

Emini S&P JUNE stretched to the next target of 4580/85 before turning lower to strong support at 4520/10 - a low for the day almost exactly here.

Nasdaq June shorts at strong resistance at 15100/15200 worked perfectly with a high for the day exactly here.

Emini Dow Jones June likely to be building a short term head & shoulders pattern with neck line at 34400.

Update daily by 05:00 GMT

Today's Analysis.

EURUSD continues lower as expected breaking support at 1.0960/50 for a sell signal targeting important 5 year trend line support at 1.0850/20. Longs need stops below 1.0780.

Gains are likely to be limited with resistance at 1.0950/60. Shorts need stops above 1.0980.

USDCAD longs at the 500 week moving average at 1.2440/10 worked perfectly with a high for the day exactly here. Longs need stops below 1.2370. A break lower is an important medium term sell signal.

Minor resistance at 1.2510/30 but shorts are probably too risky. A break higher targets a sell opportunity at 1.2590/1.2610. Shorts need stops above 1.2625.

Emini S&P JUNE holding strong support at 4520/10 targets 4530/35. I think gains are likely to be limited but above here can target look for resistance at 4555/65. If we unexpectedly continue higher look for a retest of 4585/80, before resistance at 4625/30. However a break above 4640 opens the door to 4660/70 & a break above here is the next buy signal.

We held strong support at 4520/10. Longs need stops below 4495. A break lower this week is a sell signal targeting 4480 then 4450/40.

Nasdaq JUNE shorts at strong resistance again at 15100/15200 worked perfectly targeting 14950/900 & minor support at 14750/700. Longs are too risky I think. A break lower is a sell signal targeting 14600 & 14450/350.

Strong resistance again at 15100/15200. Shorts need stops above 15350. An unexpected break higher this week is a buy signal targeting 15500/520, perhaps as far as 15650.

Emini Dow Jones JUNE made a high for the day about 100 ticks above first resistance at 34850/900. Shorts worked perfectly on the slide as predicted to 34600/550, perhaps as far as 34440/400 today. A break below 34400 is a sell signal targeting 2 week lows at 34200/150, probably 33990/950, perhaps as far as 33800.

Strong resistance at 34850/950 - shorts need stops above 35150.

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