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EUR/USD Holding First Resistance At 1.1255/65

ByJason Sen
Published 11/26/2021, 06:40 AM
Updated 07/09/2023, 06:31 AM

  • EUR/USD shorts at first resistance at 1.1255/65 worked on the slide to 1.1225 and 1.1200, although we held 14 pips above the next target of 1.1170/60.

  • USD/CAD we wrote: first support at 1.2650/40 could see a low for the day. Longs at first support near 1.2650/40 expected to target 1.2690/1.2700 and 1.2740.

  • 1.2720 reached as I wrote this morning, but the outlook remains positive.

    • Today's Analysis

    EUR/USD's first resistance is at 1.1255/65, offering us 70 pips profit so far as we look for 1.1170/60. No sign of a low yet, so further losses can target 1.1120/10.

    Gains are likely to be limited with minor resistance at 1.1230 and 1.1255/60. Strong resistance at 1.1300/10. Shorts need stops above 1.1325.

    Our USD/CAD longs became active at the first support at 1.2650/40, expected to target 1.2740 today, perhaps as far as 1.2760/70. If we continue higher, look for 1.2800.

    First support at 1.2650/40 could see a low for the day again today. Second support at 1.2580/70. Stop below 1.2555.

    USD/CAD price chart.

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