EURUSD & USDCAD Forecast – 08 October 2019

Intermediate

Recap

EURUSD topped exactly at our selling opportunity at 1.1000/10 with shorts offered 40 pips profit as I write.

USDCAD holding first support at 1.3310/20 is an important medium term buy signal…we spiked down to 1.3286 but managed a quick recovery.

Daily Forecast

EURUSD selling opportunity at 1.1000/10 with stops above 1.1025. A break higher however is a very important medium term buy signal, initially targeting 1.1050/60 & 1.1075/85.

Our shorts at 1.1000/10 target 1.0950/40 (we held 10 pips above yesterday) for some profit taking but below 1.0930 risks a slide to 1.0905/00 before the swing low at 1.0883/77.

USDCAD holding first support at 1.3310/20 is an important medium term buy signal with a break above last week’s high at 1.3345/50 targeting 1.3375/85 then 1.3420/30.

First support at 1.3320/10 but below 1.3285 risks a slide to 1.3260/50, perhaps as far as minor support at 1.3210/00.

Monthly Forex EUR

Jason Sen

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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