EURUSD and USDCAD spot recap – 2019-09-17

Intermediate

EURUSD holding 1.0985/80 allows a recovery to 1.1020 & strong resistance at 1.1040/50. Try shorts with stops above 1.1065. Next target & strong resistance at 1.1090/99, shorts need stops above 1.1115. A break higher is an important buy signal targeting 1.1130/35 & 1.1165/70 with strong resistance at 1.1180/90. A break below 1.0980 targets 1.0970/60 & 1.0935/25.

USDCAD longs from 1.3200 would have worked again yesterday on the bounce to 1.3270. Strong resistance at 1.3285/95. Bulls need a break above 1.3310 for a buy signal targeting 1.3335/40, perhaps as far as 1.3350/55. Try shorts with stops above 1.3380. Minor support at 1.3260/50 & 1.3230/25 which is holding the downside now. A break below 1.3220 targets 1.3200/1.3190, perhaps as far as 1.3170/60.

EURUSD Monthly Chart 2019-09-17

Editor

Jason Sen began his trading 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 successful...continued

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