EUR/USD Finally Breaks Support to Reach 1.0965/45

www.investing.com/analysis/eurusd-finally-breaks-support-to-reach-1096545-200638172

By Jason Sen | May 17, 2023 05:00AM ET

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EUR/USD

-0.05%

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GBP/AUD

-0.24%

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EUR/NZD

-0.18%

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AUD/CAD

-0.02%

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EUR/CAD

-0.23%

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GBP/JPY

+0.21%

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GBP/USD

-0.09%

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Trade ideas:

Currency Pairs Signals

EUR/USD finally broke support to 1.0965/45 for a sell signal to target 1.0880/70 (hit on Friday).

We have resistance at 1.0890/1.0900 (& you should be short here with a high for the day at 1.0904). Shorts need stops above 1.0920.

EUR/USD Chart

If we unexpectedly continue higher, expect strong resistance at 1.0940/60. Shorts need stops above 1.0980.

Shorts at 1.0890/1.0900 can target 1.0850/45 (a low for the day only 3 pips above here yesterday), perhaps as far as 1.0820/00, where a low for the day is certainly possible.

I think longs are risky, but if you try, stop below 1.0785 & look for a 50-pip profit.

A break lower can target 1.0730/20.

EUR/CAD double top sell signal certainly worked & AT LAST, WE HIT MY BUYING OPPORTUNITY AT 1.4600/1.4580 WITH A LOW FOR THE DAY EXACTLY HERE.

IT WAS WORTH THE WAIT!!

EUR/CAD Chart

Longs need stops below 1.4560.

Targets for longs: 1.4670, 1.4700, 1.4750.

EUR/NZD strong resistance at 1.7535/65. Shorts need stops above 1.7585.

Targets: 1.7450, 1.7420 & perhaps as far as 1.7350.

A buying opportunity at 1.7240/20. Longs need stops below 1.7190.

EUR/NZD Chart

GBP/USD shorts at yesterday's high for the day exactly at strong resistance at 1.2525/40 are working & we should eventually retest Friday's low at 1.2445/40.

Targets for shorts: 1.2445 & perhaps as far as 1.2360.

GBP/USD Chart

AUD/CAD shorts at 9030/40 worked perfectly with a high for the day exactly here & a collapse towards the April low at 8950/40 for profit taking.

GBP/AUD longs at support at 1.8610-00 worked after we held this support when tested for 4 days in a row, as we edge slowly higher.

We can try a long on another retest this week. We do have a minor support at 1.8700/1.8680, which could be worth trying a long, with stop below 1.8660.

Longs at 1.8610-00 need stops below 1.8570.

Targets: 1.8680, 1.8750

GBP/JPY has strong support at 164.45/25. Longs need stops below 167.95.

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Central Banks

Interest Rates

Next Meeting

FED

5.50%

Sep 20, 2023

ECB

4.50%

Oct 26, 2023

BOE

5.25%

Sep 21, 2023

SNB

1.75%

Sep 21, 2023

RBA

4.10%

Oct 03, 2023

BOC

5.00%

Oct 25, 2023

RBNZ

5.50%

Oct 04, 2023

BOJ

-0.10%

Sep 22, 2023

CBR

13.00%

Oct 27, 2023

RBI

6.50%

Oct 06, 2023

PBOC

3.45%

BCB

12.75%

Sep 20, 2023

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EUR/USD Finally Breaks Support to Reach 1.0965/45

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